L&T Finance slumps on share-sale price discount

L&T Finance Holdings shares fell as much as 6.01 percent after the non-banking financial company set a floor price for its stake sale at 70 rupees per share, or an 11.5 percent discount to its Thursday closing price.

Larsen & Toubro Ltd, the promoter of L&T Finance, had earlier said it would sell up to a 3.23 percent of its stake, or 55 million shares on Friday. The company has an option to sell an additional 27 million shares, it said in an exchange filing.

L&T Finance shares were down 4.7 percent at 10:25 a.m.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The NDA government would do well to keep its economic focus in place

    It is as if the worst horrors conjured by liberal secularists about India’s prime minister could be finally coming true.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture