L&T Finance’s up to $392 mn IPO to open 26 July

L&T Finance’s up to $392 mn IPO to open 26 July

Mumbai: India’s L&T Finance Holdings’ up to Rs1,750 crore ($392 million) initial public offering will open on 26 July and close 29 July, the company said in a filing with the Registrar of Companies.

The offer will be open for anchor investors on 26 July, while it will open for retail bids the next day.

Earlier this month, L&T Finance, a unit of Indian engineering conglomerate Larsen & Toubro, raised Rs330 crore through a share placement to US private-equity fund Capital International.

L&T Finance is the holding company for the financial services business of the group and operates through four units that manage the mutual fund, asset financing, infrastructure financing and working capital funding businesses.

HSBC, Citigroup, JM Financial, Barclays Capital, and Credit Suisse are the arrangers to the L&T Finance offer.