L&T Finance Holdings drops after CitiGroup and CBNA London offload 5% stake

L&T Finance Holdings tumbled 7.60% to Rs 64.45 after CitiGroup Global Markets Mauritius and CBNA London sold 6.39 crore equity shares or 4.88% stake of the company on 21 February 2022.

Post transaction, CitiGroup Global Markets Mauritius and CBNA London decreased its shareholding to 3.87% stake from 8.75% stake held in L&T Finance Holdings. The deal was executed as secondary market sale.

L&T Finance Holdings' consolidated net profit rose 7% to Rs 307.88 crore on a 11.4% decline in total income to Rs 3,150.50 crore in Q3 FY22 over Q3 FY21.

L&T Finance Holdings (LTFH) is a non-banking financial company (NBFC). It being a core investment company (CIC), carries out its businesses through its wholly owned subsidiaries. LTFH is among the market leaders in farm equipment finance, two-wheeler finance, as well as micro loans and continues to be one of the leading players in financing infrastructure sectors like renewables and roads.

 

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