L&T Finance Ltd.

L&T Finance Holdings has received its board’s approval to raise up to Rs 263 crore by issuing Cumulative Compulsorily Redeemable Preference Shares (CCRPS) on private placement basis.

The company’s board has approved the allotment of 26.3 million CCRPS of face value Rs 100 each at par on private placement aggregating to Rs 2,63.40 crore including all options, at its meeting held on June 30, 2014, to eligible allottees.

L&T Finance Holdings 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.