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L&T Finance Holdings Ltd.

BSE: 533519 Sector: Financials
NSE: L&TFH ISIN Code: INE498L01015
BSE 00:00 | 10 Jul 69.15 -1.15
(-1.64%)
OPEN

70.20

HIGH

71.50

LOW

68.50

NSE 00:00 | 10 Jul 69.20 -1.05
(-1.49%)
OPEN

69.90

HIGH

71.50

LOW

68.50

OPEN 70.20
PREVIOUS CLOSE 70.30
VOLUME 2202306
52-Week high 134.00
52-Week low 46.00
P/E 51.99
Mkt Cap.(Rs cr) 13,864
Buy Price 69.15
Buy Qty 3983.00
Sell Price 69.30
Sell Qty 425.00
OPEN 70.20
CLOSE 70.30
VOLUME 2202306
52-Week high 134.00
52-Week low 46.00
P/E 51.99
Mkt Cap.(Rs cr) 13,864
Buy Price 69.15
Buy Qty 3983.00
Sell Price 69.30
Sell Qty 425.00

L&T Finance Holdings Ltd. (L&TFH) - Company History

L&T Finance Holdings Ltd. (LTFH) is a financial holding company offering a focused range of financial products and services across rural housing and wholesale finance sectors as well as mutual fund products and wealth management services through its wholly-owned subsidiaries viz. L&T Finance Ltd. L&T Housing Finance Ltd. L&T Infrastructure Finance Company Ltd. L&T Investment Management Ltd. L&T Capital Markets Ltd. and L&T Infra Debt Fund Ltd. LTFH is registered with RBI as a CIC-ND-SI. LTFH is promoted by Larsen & Toubro Ltd. (L&T) one of the leading companies in India with interests in engineering construction electrical & electronics manufacturing & services IT and financial services. As of March 31 2018 the Company had 11 subsidiaries (including step down subsidiaries).LTFH' s wholesale finance business comprises infrastructure finance structured corporate finance and supply chain finance. The company also offers debt capital markets services as part of its wholesale finance business segment. The company's housing finance business comprises home loans and loans against property and real estate finance. The company's rural finance business comprises farm equipment finance two wheeler finance and micro loans. L&T Finance Holdings Ltd was incorporated on May 1 2008 as a public limited company with the name L&T Capital Holdings Ltd. The company was promoted by Larsen & Toubro Ltd as a holding company for their financial services business. In May 15 2008 the company received the Certificate of Commencement of Business. In March 31 2009 Larsen & Toubro Ltd's investment in L&T Finance Ltd L&T Infrastructure Finance Company Ltd and India Infrastructure Developers Ltd were transferred to the company and hence L&T Finance Ltd L&T Infrastructure Finance Company Ltd and India Infrastructure Developers Ltd became the wholly owned subsidiaries of the company. In January 20 2010 the company's wholly owned subsidiary L&T Finance Ltd acquired L&T Investment Management Ltd (formerly DBS Cholamandalam Asset Management Ltd) and L&T Mutual Fund Trustee Ltd (formerly DBS Cholamandalam Trustee Ltd) the trustee company for L&T Mutual Fund.In September 1 2010 the company changed their name from L&T Capital Holding Ltd to L&T Finance Holdings Ltd.In 2011 L&T Finance Holdings' total assets crossed Rs 20000 crore mark. During the year company entered the capital market with its maiden initial public offer. In 2012 L&T Finance Holdings' total assets crossed Rs 30000 crore mark. During the year the L&T Finance Holdings forayed into housing finance business with the acquisition of Indo Pacific Housing Finance Ltd (IPHF). During the year L&T Finance Holdings' mutual fund unit acquired Fidelity's mutual fund business in India. During the year the company started two-wheeler financing with its acquisition of Family Credit a non-banking finance company.In 2013 L&T Capital Markets was incorporated as a Platform for Wealth Management business. During the year L&T Finance Holdings launched a maiden issue of preference shares.In 2015 L&T Finance Holdings' total assets crossed Rs 50000 crore mark. During the year the company raised Rs 708 crore from preferential issue of Equity Shares and Warrants to Bain Capital. In 2016 L&T Finance Holdings re-oriented its strategy to focus on select products and deliver improvement on Return on Equity (RoE).In 2017 L&T Finance Holdings expanded its footprint by commencing Micro loans business in Assam. During the year its mutual funds business crossed the Rs 50000 crore Assets Under Management (AUM) mark.On 8 March 2018 L&T Finance Holdings Limited (LTFH) announced that it has completed the preferential allotment to Larsen & Toubro Limited (the Promoter) of 10.78 crores equity shares at issue price of Rs. 185.51 per share. 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. The capital infused by the Promoter will help fund the growth of LTFH's focused lending businesses - rural finance housing finance and wholesale finance and further strengthen the capital adequacy of the company.On 13 March 2018 L&T Finance Holdings Limited (LTFH) announced the successful closure of its Qualified Institutional Placement (QIP) of upto Rs 1000 crore at the issue price of Rs 158.60 per share. The capital raised will be used for business growth. On 20 June 2018 L&T Finance Holdings (LTFH) through its subsidiary L&T Finance (LTF) announced the opening of its 1000th meeting center in Kolkata West Bengal for its micro loans business. Furthermore the company has launched an app which would enable seamless customer on-boarding by providing instant loan sanctioning. The micro loans business has an end-to-end digital platform embedded with a range of services such as loan sanctioning group formation e-signing receipting risk audits etc.The Company had allotted 63820990 Warrants with each Warrant convertible into one Equity Share of the face value of Rs 10 each at a price of Rs 74 per Warrant to BC Asia Growth Investments (Investor) on December 18 2015 on a preferential basis. The Company had received 25% upfront money of total consideration from the Investor at the time of allotment of Warrants and balance 75% was received at the time of exercise of notice for option to convert the Warrants. Pursuant to the said conversion of Warrants the Company has allotted 63820990 Equity Shares of face value of Rs 10 each to Investor on May 17 2017. Further the Company also allotted 63051702 Equity Shares of Rs 10 each at an issue price of Rs 158.60 to the eligible qualified institutional buyers on a private placement basis under Chapter VIII of SEBI ICDR on March 15 2018.In FY 2018 the Company redeemed 17900000 Compulsory Convertible Redeemable Preference Shares (CCRPS) amounting to Rs 17900 Lakh.During the year under review L&T Access Distribution Services Limited wholly owned subsidiary of the Company was merged with L&T Capital Markets Limited another wholly owned subsidiary of the Company with effect from November 10 2017.