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L&T Finance Rs 3,000 cr rights issue to open for subscription on Feb 1

L&T Finance Holdings on Monday said its board has fixed the price at Rs 65 per share for the Rs 3,000 crore rights issue which opens for subscription on February 1.

According to a regulatory filing, the board has approved the price of Rs 65 per fully paid-up share including a premium of Rs 55 per share of face value Rs 10.

The company has fixed record date of January 22, 2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement, it said.

“Rights entitlement ratio is 17:74 (17 Equity Shares for every 74 shares fully paid-up Equity Share held by the eligible equity shareholders of the company, as on the record date). If the shareholding of any of the eligible equity shareholder is 5 or more, such shareholders will be entitled to at least 1 equity share,” it said.

The rights issue closes on February 15, it added.




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