L&T Finance Holdings Limited, a private sector non-banking financial company (NBFC) in India, closed its rights issue to raise Rs 2,998.61 crore. The rights issue was oversubscribed by nearly 15 per cent.
L&T Finance Holdings Limited is active in rural finance, housing finance, infrastructure finance and investment management.
Dinanath Dubhashi, managing director & chief executive officer, L&T Finance Holdings, said, “We are delighted that our rights issue was oversubscribed and we are thankful to our investors for their support. The response reflects the faith in the resilience of our business model which along with our AAA credit rating, and the strong backing of our parent, gives us the confidence of continuing on our path of creating a stable and sustainable organisation, for all our stakeholders.”
The allotment of equity shares offered pursuant to the rights issue will occur on or about Tuesday, February 23, 2021, and such equity shares shall be listed on the BSE Limited and National Stock Exchange of India Limited (NSE) on or about Friday, February 26, 2021.
Axis Capital Limited, BOB Capital Markets Limited, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited and UBS Securities India Private Limited are acting as the lead managers to the issue.
The data on subscription is based on R-WAP data and data provided by the stock exchange and subject to final certificates, reconciliation and technical rejection and finalisation of basis of allotment.