{"id":67733,"date":"2018-03-10T01:40:26","date_gmt":"2018-03-10T01:40:26","guid":{"rendered":"http:\/\/www.bnreport.com\/who-invested-in-lt-finance-holdings-share-sale\/"},"modified":"2018-03-10T01:40:26","modified_gmt":"2018-03-10T01:40:26","slug":"who-invested-in-lt-finance-holdings-share-sale","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/who-invested-in-lt-finance-holdings-share-sale\/","title":{"rendered":"Who invested in L&T Finance Holdings share sale?"},"content":{"rendered":"

Morgan Stanley Investment Management, Templeton, ICICI Prudential Life and HDFC<\/a> Mutual Fund are among the bulge-bracket investors to have bought into L&T Finance Friday, which successfully raised about Rs 1,000 crore in an exclusive share sale to institutions, two top market sources told ET. <\/p>\n

\u201cBoth domestic and foreign institutional investors were keen to have their share of the pie as they see a great potential for non-banking finance companies amid sluggish bank-credit growth,\u201d said one of the persons cited above. <\/p>\n

The company said to have received overwhelming response of more than Rs 1700 crore for the issue. <\/p>\n

The L&T Finance spokesperson declined to comment. Individual banks could not be immediately reached. <\/p>\n

BSE Finance, a sector index, climbed 18.5% in the past one year, compared with a 15% rise in the broader Bankex. <\/p>\n

The non-banking finance arm of India\u2019s biggest construction company aims to strengthen its capital base and bankroll expansion. The two-day share sale closed Friday. <\/p>\n

L&T Finance Holdings shares gained 0.8% to close at Rs 160 on the BSE Friday. <\/p>\n

Citi Group, Edelweiss Financial Services<\/a>, Motilal Oswal<\/a> and JM Financial<\/a> Services were the investment bankers for the sale. <\/p>\n

Through this share sale to institutions, the company was supposed to reduce about 2.3-3.3% of its equity. With the increase in size, the dilution will be more now. The minimum application size was 2,000 equity shares. <\/p>\n

Shares in L&T Finance surged about 32% in the past one year, compared with a 15.4% climb in the broader benchmark, the 30-stock Sensex<\/a>. <\/p>\n

In a separate move earlier in the day, L&T Finance Holdings said that it has completed the process of a preferential allotment to its parent Larsen & Toubro. The allotment of about 108 million shares of Rs 10 each was made at the issue price of Rs 185.51. <\/p>\n

Meanwhile, HDFC Bank has appointed arrangers, including Bank of America Corp, Morgan Stanley and Credit Suisse Group AG, for a Rs15,500-crore planned share sale, Bloomberg reported. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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Morgan Stanley Investment Management, Templeton, ICICI Prude..<\/p>\n","protected":false},"author":1,"featured_media":67734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-67733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nWho invested in L&T Finance Holdings share sale? - Business News Report<\/title>\n<meta name=\"description\" content=\"Morgan Stanley Investment Management, Templeton, ICICI Prude..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/who-invested-in-lt-finance-holdings-share-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who invested in L&T Finance Holdings share sale? 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