L&T Finance gains after Bain Capital picks up 10.2% stake

Shares of L&T Finance Holdings are trading higher by over 1% at Rs 67.70 on the BSE after Bain Capital, the global private equity (PE) giant, acquired a 10.2% stake in the company.

“We expect our balance sheet size to grow at a compounded annual rate of 25-30  per cent in the next three years,” says N Sivaraman, president & wholetime director, L&T Finance Holdings. “The equity infusion from Bain will help us meet the capital requirement to support this growth.” CLICK HERE FOR FULL STORY

The stock opened at Rs 68.10 and touched a high of Rs 68.45 on the BSE.