Citi raises stake in L&T Finance to 7.56%

Citigroup has increased its stake in financial services firm L&T Finance Holdings to 7.56 per cent from 5.74 per cent for about Rs 208 crore.

Citigroup Global Market Mauritius Pvt Ltd purchased 3.18 crore shares or 1.82 per cent of L&T Finance Holdings from the secondary market, a regulatory filing said.

At today's closing market price, the transaction value stands at about Rs 208.8 crore. Shares of L&T Finance closed at Rs 65.60 per unit, down 1.20 per cent on the BSE.

Earlier this year, L&T Finance Holdings sold 5.27 per cent stake to private equity firm Bain Capital through an issue of preferential shares and warrants for about Rs 708 crore.