L&T Finance Holdings raises Rs1,000 crore in QIP
New Delhi: L&T Finance Holdings has raised Rs1,000 crore through qualified institutional placement (QIP) that closed on Tuesday.
It has closed the QIP of up to Rs1,000 crore at the issue price of Rs158.60 per share, the company said in a statement. The issue price of the QIP is same at the closing price of company’s stock on 8 March, the date on which the QIP was launched.
“The capital raised will be used for the growth of our businesses,” said Dinanath Dubhashi, managing director and chief executive officer (CEO), L&T Finance Holdings (LTFH). LTFH is a non-banking finance company (NBFC) that offers financing services in rural, housing, wholesale segments. It also provides mutual funds and wealth management services through its arms.
Shares of the company closed 1.29% up at Rs164.50 on BSE on Tuesday.