L&T Finance hasn't had it this good in 4 months. Know why
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Shares of L&T Finance Holdings soared 9 percent to 4-month highs after the Economic Times paper reported American private equity player Warburg Pincus is negotiating with the management to buy a 25 percent stake in the non banking finance company.Mumbai-based L&T Finance has a market capitalization of 12,400 crore rupees, hence, a 25 percent stake will cost Warburg roughly `4,100 crore based on today's prices. Parent L&T controls nearly 73 percent equity in the company.
L&T Finance is a major lender in the commercial vehicle segment and has made inroads in the real estate lending space as well. It may use the funds to deepen its presence in both sectors.
L&T Finance's shares were trading at 72.15 rupees, gaining 5.70 rupees on the National Stock Exchange. 28 lakh shares changed hands.
L&T Finance has surged 20 percent in the last one month.
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(Image credit: Indiatimes)
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