L&T Finance Holdings Ltd. has issued non-convertible preference shares on a private placement basis to raise up to Rs 300 crore.
The company has issued up to 30,000,000 cumulative compulsorily redeemable non-convertible preference shares of Rs 100 face value aggregating up to Rs 300 crore on a private placement basis, L&T Finance Holdings said in a regulatory filing on Wednesday.
The preference shares carry dividend rate of 7.50 percent per annum payable annually.
L&T Finance shares fell 1.69 percent to Rs 116.25 apiece on the National Stock Exchange while the benchmark Nifty 50 gained 0.47 percent to end the day at 12,221.65 points.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
