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L&T Finance raises Rs 2,000 cr from L&T

Press Trust of India  |  New Delhi 

L&T Holdings Ltd has raised almost 2,000 crore from preferential allotment of shares to its promoter (L&T).

L&T Holdings said the capital infused by the promoter will help fund the growth of its focused lending businesses -- rural finance, housing and wholesale finance, and further strengthen the capital adequacy of the company.

"The company has today completed the preferential allotment to Ltd of 10.78 crore equity shares of 10 each at the issue price of 185.51 per share," (LTFH) said in a BSE filing.

"Through this issue, the promoter has infused additional capital amounting to Rs 1999.99 crore demonstrating their belief and commitment to the LTFH growth story," it added.

Shares of were trading 0.70 per cent down at Rs 156.60 on BSE.

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

First Published: Thu, March 08 2018. 11:55 IST