L&T Finance Holdings Limited board approves ₹3000 crore rights issue

L&T Finance Holdings said its board has approved raising of up to Rs 3,000 crore through a rights issue

L&T Finance Holdings on Monday said its board has approved raising of up to Rs 3,000 crore through a rights issue.

“The board approved the offer and issuance of fully paid-up equity shares of the company for an amount not exceeding Rs 3,000 crore by way of a rights issue to the eligible equity shareholders of the company,” L&T Finance Holdings said in a regulatory filing.

The company said details of the rights issue, including price and entitlement ratio, will be determined in due course.

Shares of L&T Finance Holdings Ltd were trading 0.37 per cent lower at Rs 67.35 apiece on the BSE.

Source: PTI