L&T Finance Holdings opens rights issue on 01 Feb

L&T Finance Holdings will open its Rs 2998.61 crore rights issue on 01 February 2021. The Company will issue up to 46,13,25,021 equity shares for cash, at a price of Rs. 65 per equity share (including a premium of Rs 55 per equity share) not exceeding Rs. 2,998.61 crore on a rights basis to eligible equity shareholders in the ratio of 17 Equity Share for every 74 Equity Share held on the record date, that is 22 January 2021. The issue will close on 15 February 2021.

The funds raised through the Issue will be used to repay certain commercial papers issued by the Company, infusion of funds in the Company's subsidiary, for repayment of certain commercial papers issued by such subsidiary, redemption of preference shares issued by the Company and for general corporate purposes.

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