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L&T Finance Holdings to raise up to 1.5B rupees in preference share issue

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L&T Finance Holdings to raise up to 1.5B rupees in preference share issue

L&T Finance Holdings Ltd. plans to raise up to 1.5 billion rupees by issuing preference shares in a private placement.

The issue will open Sept. 19 and close the same day. The issue price is 100 rupees per preference share. The redemption date is Jan. 20, 2023.

The company plans to use proceeds from the issue to redeem preference shares, repay loans or make investment in its subsidiaries.

As of Sept. 18, US$1 was equivalent to 71.17 Indian rupees.