L&T Finance to raise Rs 195 cr by issuing preference shares

L&T Finance Holdings plans to raise up to Rs 195 crore by issuing shares on a preferential basis.

In an exchange filing, the company said it will issue up to 1,95,00,000 cumulative compulsorily redeemable non-convertible preference shares - at face value of Rs 100 each - aggregating up to Rs 195 crore on a private placement basis.

Stock of the L&T Finance closed 3.05 per cent up at Rs 118.40 on the BSE.