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L&T Finance Holdings rises on stake sale plan

The company is in talks to sell a minority stake to Bain Capital

SI Reporter  |  Mumbai 

L&T Finance

Shares of L&T Finance Holdings has increased by 2% to Rs 62 on the BSE on reports stating that the financial services unit of engineering major L&T is in talks to sell a minority stake to Bain Capital, one of the world's leading private, alternative asset management firms. CLICK FOR FULL REPORT

On signing the deal, Bain Capital would have to pay approximately $350 million. The company desires to expand beyond business outsourcing and manufacturing and foray into financial services in India.

L&T Finance Holding opened at Rs 61 and touched a high of Rs 62 on the BSE. Meanwhile, L&T, its parent company, is trading higher by 2.5% and is currently quoting at Rs 1,709 on the BSE.

First Published: Wed, June 10 2015. 11:26 IST