L&T Finance Rights Issue: L&T Finance Holdings raises Rs 2,999 crore through rights issue

MUMBAI: L&T Finance Holdings has raised Rs 2,999 crore through the rights issue which was closed on Tuesday. The issue was oversubscribed by 15%. The allotment of equity shares offered pursuant to the rights issue will happen on Tuesday, February 23, 2021 and will be listed on the BSE and on NSE on February 26, 2021, said the company in a press release. On the success of the rights issue, Dinanath Dubhashi, MD & chief executive officer, L&T Finance Holdings said that the response reflects the faith in the resilience of L&T Finance’s business model. “L&T Finance’s AAA credit rating, and the strong backing of our parent, gives us the confidence of continuing on our path of creating a stable and sustainable organisation, for all our stakeholders.” Axis Capital, BOB Capital Markets, Citigroup Global Markets, Credit Suisse Securities, HSBC Securities, , Motilal Oswal Investment Advisors, SBI Capital Markets and UBS Securities were the lead managers to the issue. /* User Identification Code Start */ var _tiluuid = localStorage.getItem('_tiluuid'); if (_tiluuid === null) { function receiveMessage(evt) { if (evt.origin === 'https://tilanalytics.timesinternet.in') { _tiluuid = evt.data; localStorage.setItem('_tiluuid', _tiluuid); } } window.addEventListener('message', receiveMessage, false); document.getElementById("_tiluuid_frame").src="https://tilanalytics.timesinternet.in/frame_v3.min.html"; } /* User Identification Code End */ var urlParams = window.URLSearchParams && new URLSearchParams(window.location.search), optParam = urlParams.get && urlParams.get('opt'); var objSec = {template: 'articleshow_main', msid:'80993777', secNames: ['markets','stocks','news'],secIds:['2147477890','1977021501','2146842','2146843']}; var tmplName = tpName="articleshow_main",lang = '',nav_sec1,newHookId,subsec1_value,subsec1_common = '1977021501',newHookId2,subsec2_value,subsec2_common = '2146842'; var objVc = {version_on:'20210216192404',js_newyearsale:'8',js_etsubscription:'1',js_onboarding_popup_sh:'6',js_comments:'111',js_googleslock:'782',js_googlelogin:'56',js_common_buydirect:'749',js_bookmark:'18',js_login:'46',js_datepicker:'2',js_electionsmn:'22',js_push:'54',css_buydirect:'14',js_tradenow:'19',js_commonall:'138',lib_login:'https://jssocdn.indiatimes.com/crosswalk/jsso_crosswalk_legacy_0.5.9.min.js',live_tv:'{"onoff_flag":"0","platform":"desktop","sections":["79755474","1715249553","13352306","13357270","897228639","1466318837"],"pages":"all","auto_open":"1","default_tv":"1","timePeriod":{"showTimeFlag":false,"fromTime":"","toTime":""}}',global_cube:'0',global_cube_wap:'0',global_cube_faces:'2',global_cube_fullad:'0',global_cube_landingon:'sensex',global_cube_wap_url:'https://m.economictimes.com/iframe_cube.cms',site_sync:'0',adx:'1',amazon_bidding:'1',js_newsltrpopup:'119',nlExpiry:'864000',nlReloadExpiry:'30',fan_ads:'0',trackAdCode:'0',ajaxError:'1',oauth:'oauth',planPage:"https://economictimes.indiatimes.com/plans.cms",planPageTest:'https://economictimes.indiatimes.com/plans.cms',subscriptions:'subscriptions',krypton:'kryptonp',apw:'apw',nlSubscribe:'etsub3'}; if(window.location.host == 'economictimes-pp.indiatimes.com') { objVc.oauth="oauth-pp"; objVc.krypton = 'krypton-pp'; objVc.subscriptions="subscriptions-pp"; objVc.apw = 'apw-pp'; } var objDim = {d52:'nature_of_content',d96:'continuous_paywall_hits',d95:'monthly_article_count',d10:'user_login_status_hit',d54:'content_shelf_life',d98:'daily_paid_article_count',d53:'content_target_audience',d97:'monthly_paid_article_count',d12:'tags_meta_keyword',d56:'degree_of_conten',d11:'content_theme_the_primary_tag',d55:'content_tone',d14:'special_coverage',d58:'et_product_item',d13:'article_publish_time',d16:'video_embed',d15:'audio_embed',d59:'show_paywall_final',d61:'paywall_probability',d60:'paywall_score',d63:'paid_articles_read',d62:'eligibility_paywall_rule',d65:'bureau_articles_read',d20:'platform',d64:'free_articles_read',d23:'author_id',d67:'loyalty',d66:'article_length',d25:'page_template',d24:'syft_initiate_page',d68:'paywall_hits',d27:'site_sub_section',d26:'site_section',d29:'section_id',d28:'prime_deal_code',d70:'us_election_2020',d72:'paywall_experiment',d71:'plan_group_id',d32:'prime_article_read_before_syft',d75:'watchlist_active_status',d34:'content_age',d33:'prime_article_read_before_success',d36:'sign_in_initiation_position',d35:'subscription_method_hit',d37:'user_subscription_status',d1:'et_product',d2:'blocker_type',d3:'user_login_status_hit',d4:'agency',d5:'author_name',d6:'cms_content_publishing_type',d7:'content_personalisation_level',d8:'article_publish_date',d9:'sub_section_name',d40:'freeread',d45:'prime_hp_ui_template',d47:'prime_hp_ui_content_b_color',d46:'prime_hp_ui_content_size',d49:'syft_initiate_position',d48:'content_msid',d92:'last_click_source',d50:'signin_initiate_page',d94:'daily_article_count',d93:'internal_source'};var serverTime="02.16.2021 19:24:10";var WRInitTime=(new Date()).getTime(); (function () {if (self !== top) {var e = function (s) {return document.getElementsByTagName(s)}; e("head")[0].innerHTML = '*{display:none;}'; setTimeout(function () {e("body")[0].innerHTML = ''; var hEle = e("html")[0]; hEle.innerHTML = 'economictimes.indiatimes.com'; hEle.className=""; top.location = self.location; }, 0);}})(); _log = window.console && console.log ? 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