L&T Finance Holdings IPO (Initial Public Offering) : Fixes issue price at Rs 52 near to lower end of price band

by khalid on 02/08/2011 · 0 comments

L&T Finance Holdings Limited have fixed the issue price of its initial public offering (IPO) at Rs 52 per share, near to the lower end of price band which was Rs 51 – Rs 59 Per Equity Share. The issue was open for subscription during 27th July 2011 and 29th July 2011. 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.

L&T Finance Holdings IPO had received good response from investors and got subscribed nearly 5.34 times.

This IPO proceeds will be used for for repayment of intercorporate deposit issued by promoter to company (worth Rs 345 crore); and augmenting the capital base of L&T Finance (by infusing Rs 570 crore) and L&T Infra (by investing Rs 535 crore), to meet the capital adequacy requirements to support the future growth in their business.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Book running lead managers (BRLM) to the issue are JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Barclays Securities (India) Private Limited and Credit Suisse Securities (India) Private Limited.

Registrar of the Issue : Sharepro Services Private Limited, Mumbai.

Stay tuned to BelltheBull Blog for more on L&T Finance Holdings IPO !

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