MoneyWorks4Me

L&T sells 4.85% stake in L&T Finance via OFS route

15 Mar 2014 Evaluate

Larsen & Toubro (L&T) has sold 4.85% stake in L&T Finance Holding for Rs 600 crore via offer for sale (OFS) route. The company's holding in its diversified financial arm has come down from 81.5% to 76.65%. Credit Suisse Securities managed the share sale.

Larsen & Toubro is a $14 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations. Its products and systems are marketed in over 30 countries worldwide.

Peers
Company Name CMP
Larsen & Toubro 3620.50
Kalpataru Projects 1403.00
NCC 119.95
Rail Vikas Nigam 187.10
KEC International 349.85
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