Leading non-banking finance firm, L&T Finance's Initial Public Offer (IPO) is likely to hit the market in the last quarter of FY 11, a senior company official said.
"All necessary approvals from the government have been received. We are keeping ourselves ready for the IPO and expect it to hit the market by the last quarter of FY 11," L&T's CFO, Y M Deosthalee, told reporters on the sidelines of an event here today.
The company aims to raise about Rs 1,500 crore through the IPO and plans to use the proceedings to expand its business by including new products and services, as well as entering into entirely new lines of business.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app