L&T Finance Ltd.

L&T Finance Holdings has received approval from committee of directors to allot 6.38 crore equity shares to BC Asia Growth Investments (of Bain Capital) pursuant to conversion of the warrants issued on December 18, 2015, on preferential basis. The convertible warrants were allotted at Rs 74 a warrant.

Warrants may be exercised by Bain Capital within 18 months from the allotment date or accelerated after six months from the date of allotment based on the company’s capital requirement.

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.