L&T Finance Holdings gains on fund raising plan
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L&T Finance Holdings is trading higher by 2.5% at Rs 76.35 after the company said its board has approved to raise up to Rs 263 crore by issuing Cumulative Compulsorily Redeemable Preference Shares (CCRPS) on private placement basis.
"The committee of directors of the company has approved the allotment of 26.3 million CCRPS of face value Rs 100 each at par on private placement aggregating to Rs 2,63.40 crore including all options, at its meeting held on June 30, 2014, to eligible allottees," L&T Finance Holdings said in a statement.
The stock opened at Rs 76.05 and touched a high of Rs 76.80 on BSE. A combined 3.96 million shares changed hands on the counter so far on BSE and NSE.
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