L&T Finance seeks $277 million from IPO

The financing unit of Larsen & Toubro will offer $36 million worth of shares to anchor investors tomorrow and will open its order books for other investors on Wednesday.
<div style="text-align: left;"> Bombay's stock exchange, where L&T Finance hopes to raise $277 million (AFP) </div>
<div style="text-align: left;"> Bombay's stock exchange, where L&T Finance hopes to raise $277 million (AFP) </div>
July 24, 2011

LT Finance Holdings has set the terms for an initial public offering that will kick off tomorrow with an offer to anchor investors.

The Mumbai-based company a unit of Indian blue-chip Larsen Toubro that focuses on retail, corporate and infrastructure financing as well as investment management is looking to pocket approximately Rs12.45 billion $277 million from the offering in addition to the $73 million it raised from a pre-IPO placement to US private equity firm Capital International in June, resulting in a total capital-raising of $350 million.

The bookbuilding for other investors will be open from Wednesday to Friday this week.

The price...

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