Larsen & Turbo Finance to raise Rs. 2,000 Crores for expansion. Furthermore, Larsen & Turbo Finance Holdings (LTFH), the non-banking finance company is in plans to raise up to Rs 2,000 crore by issuing preference shares through public offer or private placement. A total of 20 crore cumulative compulsorily redeemable non-convertible preference shares will be issued in one or more tranches.
Also, the company will seek shareholders’ approval. Which is for the proposal at the annual general meeting (AGM) scheduled. To take place on July 28 through audio/visual mode. The annual report stated.
Moreover, the company in its board meeting held in March this year that it had proposed amalgamation of L&T Infrastructure Finance Company Ltd (LTIFC), L&T Housing Finance (LTHFC) and L&T Finance (LTFL) to create a single unified leading entity with appointed date of April 1, 2020, for requisite regulatory approvals, it said in the report.
Also, LTFH Chairman Shailesh Haribhakti in his message to shareholders. “While we anticipate strong recoveries in rural India. There may be a slow pick-up in the real estate and infrastructure financing segment. Your company is further leveraging its technology infrastructure to strengthen its data analytics and increase collections.”
L&T Finance Holdings continued on its path of building a stable and sustainable organization, demonstrating resilience and focusing on the key strengths built over the past few years. The financial results for Q4FY20 and FY20 are as follows
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— L&T Finance (@LnTFinance) May 16, 2020
