L&T Finance Holdings completes Preferential Allotment to Larsen & Toubro Limited

L&T Finance Holdings Limited ("LTFH" or "the Company') has today completed the preferential allotment to Larsen & Toubro Limited (the "Promoter"), of 10,78,10,899 equity shares of Rs. 10 each at the issue price of Rs. 185.51 per share. Through this issue, the Promoter has infused additional capital amounting to Rs. 1999.99 crore demonstrating their belief and commitment to the LTFH growth story.

The capital infused by the Promoter will help fund the growth of LTFH's focused lending businesses – rural finance, housing finance and wholesale finance, and further strengthen the capital adequacy of the Company.

For quarter ended 31st December 2017, LTFH declared consolidated profit of Rs. 384 crore, a YoY growth of 42%. RoE for Q3FY18 was 15.91% as against 12.81% in Q3FY17 – improvement by 310 bps. Focused business book in the same quarter had grown by 26% YoY.

Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.157 as compared to the previous close of Rs. 159.6. The total number of shares traded during the day was 414873 in over 2384 trades.

The stock hit an intraday high of Rs. 159.95 and intraday low of 154.8. The net turnover during the day was Rs. 65371842.

Source : Equity Bulls

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