Updates: Issue price of L&T finance holding ltd is decided as Rs. 52.Earlier ipo was subscribed more than 9 times in retail cateogary.
New IPO of L&T finance Holding Ltd will hit the market within next few days.L&T finance offers diverse range of financial products and services across the retail, corporate and infrastructure finance,mutual funds and investment management services.It is registered with RBI as Non-deposit taking non-banking finance company.It is coming up with an IPO on July 2011 to raise Rs. 1250 Crore.Some of the IPO highlights are as follows.
The Five subsidiaries of L&T finance Holding Ltd are: L&T infrastructure company,L&T Finance,India Infrastructure Developers,L&T Investment Managers and L&T Mutual fund Trustees.
IPO Details:
- Issue Open: 27th July 2011.
- Issue Close: 29th July 2011.
- Issue Size: Rs. 1250 Crore.
- Issue Price Band: Rs 51 – 59.
- Listing at NSE and BSE.
- Price to Book value between 1.7-1.9.It is close to that of Mahindra finace quoting at 2.1-2.3,IDFC quoting at 1.7-1.8 and STFC quoting at 2.4-2.6.
- IPO Grade :”5″ from CARE indicates strong fundamentals.
- Registrar: Sharepro services pvt ltd.
