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L&T Finance Holdings' rights issue to open on Feb 1; stock surges 7%

The company has fixed January 22, 2021 as record date to determine the equity shareholders entitled to receive the rights entitlement in the rights issue.

L&T Finance Holdings up 7% ahead of rights issue record date
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The board of directors of the company at their meetings held on November 4, 2020, had already approved the offer and issuance of fully paid-up equity shares

SI Reporter Mumbai
Shares of L&T Finance Holdings were up 7 per cent at Rs 106 on the BSE on Tuesday. The company has fixed January 22, 2021 as record date, for its proposed Rs 3,000-crore rights issue, to determine the equity shareholders entitled to receive the rights entitlement in the rights issue. The stock will turn ex-date for rights issue on Thursday, January 21.

The non-bank lender on Monday said the company's rights issue offer will open on February 1 and will close on February 15. The company has fixed a price of Rs 65 per equity share for the offer