The Committee of Directors of L&T Finance Holdings Ltd has approved the offer and issuance of up to 195,00,000 Cumulative Compulsorily Redeemable Non-Convertible Preference Shares ("CRPS") of face value of Rs. 100 at par aggregating to a nominal amount of up to Rs. 195,00,00,000 on a private placement basis at the dividend rate of 8% p.a. payable annually.
The CRPS will be listed on the BSE Limited.
The tenure of the instrument is 3 years 6 months from the date of allotment. The date of allotment is May 17, 2019 and date of redemption is November 17, 2022.
Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.118.4 as compared to the previous close of Rs. 114.9. The total number of shares traded during the day was 549639 in over 3005 trades.
The stock hit an intraday high of Rs. 119.8 and intraday low of 113.7. The net turnover during the day was Rs. 64682212.