L&T Finance IPO : Files a revised DRHP with SEBI

by khalid on 11/04/2011 · 0 comments

Larsen & Toubro (L&T) is a technology-driven USD 8.5 billion company that infuses engineering with imagination. The company has informed the market(BSE) that the financial services arm of L&T (L&T Finance Holdings Ltd) has filed a revised Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to its IPO size from Rs 1500 crore to Rs 1750 crore. Last year in September, L&T Finance Holding had filed the draft paper with SEBI for a Rs 1500 crore IPO. The premium of the issue to be decided via 100% book building process.

L&T Finance is contemplating an addition to the proposed objects of the issue. As per the draft red herring prospectus (DRHP) filed with the SEBI, the company may consider a pre-IPO placement of 6 crore equity shares to one or more investors, totalling up to Rs 400 crore.

The IPO proceeds would be used to augment the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio, and for other general corporate purposes.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Book running lead managers to the issue are HSBC, Citigroup, JM Financial, Barclays Capital, and Credit Suisse.

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

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

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