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L&T Finance’s IPO likely in Q4 FY11

L&T Finance’s IPO likely in Q4 FY11
PTI
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First Published: Fri, Dec 17 2010. 05 10 PM IST
Updated: Fri, Dec 17 2010. 05 10 PM IST
Mumbai: Leading non-banking finance firm, L&T Finance’s initial public offer (IPO) is likely to hit the market in the last quarter of FY11, a senior company official said.
“All necessary approvals from the government have been received. We are keeping ourselves ready for the IPO and expect it to hit the market by the last quarter of FY11,” L&T’s CFO, YM Deosthalee, told reporters on the sidelines of an event on Friday.
The company would be raising about Rs1,500 crore through the IPO and plans to use the proceedings to expand its business by including new products and services, as well as entering into entirely new lines of business.
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First Published: Fri, Dec 17 2010. 05 10 PM IST
More Topics: L&T Finance | IPO | Shares | Money Matters | IPOs |