Page 4 - L&t Finance Holdings
L&T Finance junks stake-sale plan for mutual fund arm, eyes IPO
The groundwork for the IPO has begun and the company is in the preliminary price-discovery mode
 "L&T Finance junks stake-sale plan for mutual fund arm, eyes IPO")
L&T Finance Holdings and group to raise Rs 15,000 cr for IPO finance
L&T Finance Holdings (LTFHL) and its subsidiaries will raise a little over Rs 15,000 crore through commercial paper, a short-term money market instrument, and bonds to predominantly finance Initial Public Offers of equity. LTFHL, through its subsidiaries, is into services across rural, housing and wholesale finance businesses. Its group entities also offer fund management and non-fund based services such as insurance and mutual fund distribution.The entities rasing money through commercial paper are -- L&T Finance up to Rs 9,000 crore, L&T Infrastructure Finance, Rs 5,000 crore and L&T Housing Finance, Rs 1,000 crore. LTFHL is raising about Rs 250 crore through debentures, according to rating agency ICRA.Generally, finance companies raise resources over a period in one or more tranches, based on assessment of requirements, said a senior official with a merchant banking entity that arranges issues. On a consolidated basis, for 2016-17, LTFHL reported a net
 "L&T Finance Holdings and group to raise Rs 15,000 cr for IPO finance")
L&T finance Q3 profit rises 28% to Rs 271 crore
Company's consolidated net profit was at Rs 212 crore in the year-ago
 "L&T finance Q3 profit rises 28% to Rs 271 crore")
L&T Finance aims to offload PE portfolio
The company will also consolidate its retail financing business under one corporate body
 "L&T Finance aims to offload PE portfolio")
