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India's L&T Finance gets capital infusion via preferential allotment

L&T Finance Holdings Ltd. received a capital infusion of 20 billion Indian rupees by way of preferential allotment of equity to investor Larsen & Toubro Ltd.

The company said in a March 8 release that it allotted 107,810,899 equity shares to the promoter — that is, what an investor is generally called in India — at 185.51 rupees apiece.

As of March 8, US$1 was equivalent to 65.14 Indian rupees.