L&T Finance shares surge 5% after Bain Capital dilutes stake via block deal

Shares of L&T Finance rallied 5% in early Thursday trading to reach its all-time high of Rs 179 after Bain Capital offloaded 8.82 crore shares of the company via a block deal.

According to reports, the private equity major Bain Capital, through its affiliates BC Asia Investment VI and BC Asia Growth Investment, was planning a complete exit from L&T Finance by selling its existing stake via the block deal route.

Bain Capital offloaded its 3.5% stake in L&T Finance. The market capitalization of L&T Finance was Rs 44,344.04 crore around 9:30 am.


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The information of the buyers and sellers in the transaction is currently not available with the exchanges. However, according to reports, BNP Paribas Financial SNC is also involved in the transaction, offloading a certain stake in L&T Finance alongside Bain Capital. The deal is reportedly based on a valuation of Rs 1,500 crore.

As of March 2024, the company’s 34.14% equity rests in the hands of the public, while the remaining 65.86% lies with the promoters and the promoter group.

L&T Finance shares have surged 61% last year, while the stock gained 15% in two weeks alone. In the past 3 months, the stock has increased by 19.6% on charts.

Technically, the stock is performing well above all its significant moving averages and is standing at a mid-range level of around 61 on the RSI, as per the Trendlyne data.

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