L&T Finance Holding's share sale on Friday
L&T Finance Holdings Ltd will hit the market tomorrow to raise at least Rs 583 crore through sale of more than 8.3 crore shares.
By PTI |
MUMBAI: L&T Finance Holdings Ltd will hit the market tomorrow to raise at least Rs 583 crore through sale of more than 8.3 crore shares.
The floor price of the offer for sale has been kept at Rs 70 per scrip.
L&TFH, a listed entity, is part of conglomerate Larsen & Toubro.
The company plans to sell over 8.33 crore shares tomorrow. At the floor price of Rs 70 a piece, the sale could fetch at least Rs 583 crore, according to the information available on the National Stock Exchange.
The sale of shares would help the company to reduce its promoters' holding, which stood at about 81.5 per cent at the end of December quarter.
Under Sebi norms, promoter holding in listed companies are capped at 75 per cent.
The floor price of the offer for sale has been kept at Rs 70 per scrip.
L&TFH, a listed entity, is part of conglomerate Larsen & Toubro.
The company plans to sell over 8.33 crore shares tomorrow. At the floor price of Rs 70 a piece, the sale could fetch at least Rs 583 crore, according to the information available on the National Stock Exchange.
The sale of shares would help the company to reduce its promoters' holding, which stood at about 81.5 per cent at the end of December quarter.
Under Sebi norms, promoter holding in listed companies are capped at 75 per cent.
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