The Board of directors of L&T Finance Holdings Limited at its meeting held today, i.e., January 18, 2021 have considered and approved the following terms of the Rights Issue:
Instrument: Fully paid-up Equity Shares of face value of Rs. 10 each
Total number of Equity Shares and Rights Issue size: 46,13,25,021 fully paid-up Equity Shares each for amount aggregating to Rs. 2,998.61 Crore
Rights Issue Price: Rs. 65 per fully paid-up Equity Share [including a premium of Rs. 55 per Equity Share]
Record date: January 22, 2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")
Rights Issue period:
Rights Issue Opening Date: February 1, 2021;
Rights Issue Closing Date: February 15, 2021.
Outstanding Equity Shares:
- prior to the Rights Issue: 200,81,20,683 Equity Shares;
- post Rights Issue# : 246,94,45,704 Equity Shares.
Rights entitlement ratio: 17:74 (17 Equity Shares for every 74 shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date). If the shareholding of any of the Eligible Equity Shareholder is 5 or more, such shareholders will be entitled to at least 1 Equity Share. For example, if an Eligible Equity Shareholder holds 5 Equity Shares, such Equity Shareholder will be entitled to 1 (one) Equity Share and will also be given a preferential consideration for the allotment of one additional Equity Share if such Eligible Equity Shareholder has applied for additional Equity Shares, over and above his/her Rights Entitlements, subject to availability of Equity Shares in the Rights Issue post allocation towards rights entitlements applied for.
# assuming full subscription
Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.99.5 as compared to the previous close of Rs. 105.1. The total number of shares traded during the day was 2114586 in over 11136 trades.
The stock hit an intraday high of Rs. 103.55 and intraday low of 98. The net turnover during the day was Rs. 211021395.