The allotment of the equity shares in rights issue will happen on Tuesday and the equity shares shall be listed on the stock exchanges on Friday, the company said.
“We are delighted that our rights issue was oversubscribed and we are thankful to our investors for their support,” said Managing Director and Chief Executive Officer Dinanath Dubhashi.
The rights issue of the non-bank lender opened for subscription for its shareholders on February 1 at a fixed price of Rs 65 per share. The company had offered 17 shares to existing shareholders who held 74 shares of the company on January 22.
“If the shareholding of any of the eligible equity shareholders is five or more, such shareholders will be entitled to at least one equity share,” the company had said in an exchange filing.
Shares of L&T Finance ended 4.2 per cent higher today at Rs 101.95 on the NSE.
