The Committee of Directors of L&T Finance Holdings Ltd today i.e. Friday, November 29, 2019, through a resolution passed by circulation in accordance with the requirements of the Companies Act, 2013 (approval received from all members by 4.31 p.m.) approved the offer and issuance of up to 60,00,000 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. 60,00,00,000 on a private placement basis at the dividend rate of 7.60% p.a. payable annually.
The CRPS will be listed on the BSE Limited. The Date of allotment is December 4, 2019 and date of redemption is December 2, 2022.
Shares of L&T FINANCE HOLDINGS LTD. was last trading in BSE at Rs.120.4 as compared to the previous close of Rs. 114.5. The total number of shares traded during the day was 2763277 in over 14570 trades.
The stock hit an intraday high of Rs. 123.5 and intraday low of 115.95. The net turnover during the day was Rs. 332897233.