Live Webinar on "How to Invest successfully to reach goals without losing sleep" Sign up for Live Webinar

L&T Finance Holdings' Rs 1,750 crore IPO likely this month

13 Jun 2011

Larsen & Toubro’s financial services arm, L&T Finance Holdings’ Rs 1,750 crore initial share sale offer is likely to hit the capital market in June. The holding company has received Foreign Investment Promotion Board (FIPB) approval for coming out with Rs 400 crore pre-IPO placement. The company would soon file the final papers (Red Herring Prospectus) for the IPO and merchant bankers are receiving good response from investors for the pre-IPO placement.

Earlier this year, Larsen & Toubro Finance Holdings had filed the draft papers with market regulator SEBI for raising Rs 1,750 crore through an initial public offer (IPO). The book running lead managers for the IPO are Citigroup, JM Financial and HSBC while Credit Suisse and Barclays are acting as co-lead managers.

As per the details available with the draft red herring prospectus (DRHP) filed with the SEBI, the company may consider a pre-IPO placement of 6 crore equity shares to one or more investors, for up to Rs 400 crore. The objective of the issue are to augment the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio, and for other general corporate purposes.

L&T Finance Holdings, earlier known as L&T Capital Holdings, is the holding company for L&T Finance that operates mutual fund business and L&T Infra. L&T Finance is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.

Related Larsen & Toubro Ltd. Links:

Larsen & Toubro Share Price

1488.55 -2.10 (-0.14%) Jun 17, 18:01
1 Year Price Chart
Peers
Company Name CMP
Larsen & Toubro 1488.55
Rail Vikas Nigam 31.85
KEC International 416.95
NCC 84.10
PNC Infratech 252.65
View more..
Sensex vs Larsen & Toubro
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback