L&T to sell 5,55,05,755 equity shares of L&T Finance Holdings Ltd through OFS

Larsen & Toubro Ltd ("the Seller") the Promoter of L&T Finance Holdings Ltd (the "Company") has announced an Offer for Sale (OFS) up to 5,55,05,755 equity shares of face value of Rs. 10 each, constituting 3.23% of the equity share capital of the Company (Sale Shares) on March 14, 2014 exclusively through the Seller's broker on the separate window provided by the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) (the Stock Exchanges). In addition to the Sale Shares, the Seller may also sell up to 2,77,52,878 equity shares of face value Rs. 10 each of the Company in the Sale on March 14, 2014 (the Additional Shares, and together with the Sale Shares, the Shares).

The Sale shall take place at the separate window of the Stock Exchanges and shall commence on March 14, 2014 at 9.15 a.m. and shall close on the same day at 3.30 p.m. Indian Standard Time (the Trade Date).

Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.79.2 as compared to the previous close of Rs. 85.2. The total number of shares traded during the day was 7191840 in over 50976 trades.

The stock hit an intraday high of Rs. 88.35 and intraday low of 78.4. The net turnover during the day was Rs. 595668631.

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1225.4 as compared to the previous close of Rs. 1218.55. The total number of shares traded during the day was 154704 in over 6914 trades.

The stock hit an intraday high of Rs. 1237.6 and intraday low of 1215. The net turnover during the day was Rs. 190088671.

Source : Equity Bulls

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