L&T Finance Holdings gets nod to raise up to Rs 3,000 cr via rights issue

L&T Finance Holdings is planning to raise up to Rs 3,000 crore in equity capital through rights issue of shares to support growth of business verticals like retail and rural finance.

The board approved the offer and issuance of fully paid-up equity shares for an amount not exceeding Rs 3,000 crore by way of a rights issue to the eligible equity shareholders of the company as od the record date, it told the BSE.

The company said details of the rights issue, including price and entitlement ratio, will be determined in due course.

Shares of L&T Finance Holdings Ltd were trading 0.37 per cent lower at Rs 67.35 apiece on the BSE.