L&T Finance Rights Issue

L&T Finance Rights Issue-Analysis and details

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L&T Finance Rights Issue will open on 01 February 2021. the company aims for an issue size of ₹2,998.61 Crores through this rights issue.

L&T Finance Holdings Limited

Incorporated in 2008, L&T Finance Holdings Limited is an RBI registered non-banking financial company – a core investment company (“NBFC-CIC”). It conducts its financial services businesses through various subsidiaries. L&T Financial Services is the brand name of L&T Finance Holdings Ltd. and one of the leading private sector non-banking financial services companies in India.

L&T Finance is backed by a strong promoter, Larsen & Toubro Limited (“L&T”) that is one of the leading business conglomerates in India, with a presence across various sectors like infrastructure, power, heavy engineering, electrical and automation, IT, and technology services, financial services, power development, realty, shipbuilding, construction, mining, industrial machinery and much more. The company has classified its business across four areas: Rural Finance, Housing Finance, Infrastructure Finance, and Investment Management. As of 30th September 2020, L&T Finance is spread across 21 states and one union territory and has 206 branches in 199 cities.

Objective of the Issue

  • To repay partial commercial papers issued by the Company and its Subsidiaries.
  • To redeem preference shares issued by the Company.
  • For general corporate purposes.

Rights Issue Timetable

Bid/Offer Opens OnFeb 1, 2021
Bid/Offer Closes OnFeb 15, 2021
Record DateJan 22, 2021
Deemed Date of AllotmentFeb 23, 2021

L&T Finance Rights Issue Details

Security NameL&T Finance Holdings Limited
Issue Size (Shares)46.13 Crores
Issue Size (Amount)₹2,998.61 Crores
Issue Price₹65 per share
Face Value₹10 per share
Market Lot1 per share
Listing AtBSE, NSE
Terms of PaymentThe full amount of Rs.65 per Rights Equity Share is payable on Application.
Entitlement17 Equity Share for every 74 Fully Paid-up Equity Shares held on the Record Date

L&T Finance Rights Issue Registrar

Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083

Phone: +91-22-4918 6270
Email: lntfinance.rights@linkintime.co.in
Website: http://www.linkintime.co.in

Company Contact Information

L&T Finance Holdings Limited
Brindavan, Plot No.177,
C.S.T Road, Kalina, Santacruz (East),
Mumbai 400 098

Phone: +91 22 6212 5000
Email: igrc@ltfs.com
Website: https://www.ltfs.com/

Final Thoughts

Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.

Happy investing

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