L&T Finance seeks $277 million from IPO

The financing unit of Larsen & Toubro will offer $36 million worth of shares to anchor investors tomorrow and will open its order books for other investors on Wednesday.

<div style="text-align: left;"> Bombay's stock exchange, where L&T Finance hopes to raise $277 million (AFP) </div>

Anette Jönsson

July 25, 2011

LT Finance Holdings has set the terms for an initial public offering that will kick off tomorrow with an offer to anchor investors.

The Mumbai-based company a unit of Indian blue-chip Larsen Toubro that focuses on retail, corporate and infrastructure financing as well as investment management is looking to pocket approximately Rs12.45 billion $277 million from the offering in addition to the $73 million it raised from a pre-IPO placement to US private equity firm Capital International in June, resulting in a total capital-raising of $350 million.

The bookbuilding for other investors will be open from Wednesday to Friday this week.

The price...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 1 article per month from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222