L&T Finance raises Rs 2,000 cr from L&T

L&T Finance Holdings Ltd has raised almost Rs 2,000 crore from preferential allotment of shares to its promoter Larsen & Toubro (L&T).
L&T Finance Holdings said the capital infused by the promoter will help fund the growth of its focused lending businesses -- rural finance, housing finance and wholesale finance, and further strengthen the capital adequacy of the company.
"The company has today completed the preferential allotment to Larsen & Toubro Ltd of 10.78 crore equity shares of Rs 10 each at the issue price of Rs 185.51 per share," L&T Finance Holdings (LTFH) said in a BSE filing.
"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," it added.

Shares of L&T Finance Holdings were trading 0.70 per cent down at Rs 156.60 on BSE.