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L&T Finance Holdings plans to raise Rs 250 crore

Capital Market 

Through private placement of preference shares

announced that meeting of the of the Company was held on 08 October 2018 to approve the issuance of 2,50,00,000 Redeemable Non-Convertible Preference Shares (CRPS) of face value of Rs. 100 each at par aggregating to a nominal amount of Rs. 250 crore on a private placement basis. The will be unlisted but may be listed subsequently at the option of the Company on any recognized exchange and will have a tenure of 3 years from the date of allotment. The redemption of will be done in accordance with the provisions of Section 55 of the Companies Act, 2013.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 11:03 IST