Apr 13, 2021By: Rounak Jain
The government has given an emergency use nod to Sputnik V vaccine that was being tested by the company in partnership with the Russian Direct Investment Fund.
While the company’s net profit grew 15 percent year-on-year, it missed analyst estimates by a whisker.
It registered a 21 percent increase in loans and advances compared to the previous year, while deposits registered a growth of 37 percent.
It has been fined ₹25 crore by SEBI for mis-selling its AT-1 bonds on its “hapless” customers in the secondary market.
It closed the qualified institutional placement (QIP) at ₹119.6 per share, which is at a discount of 4.92 percent compared to the floor price of ₹125.79.
Its subsidiaries, L&T Housing Finance and L&T Infrastructure Finance have been merged with the company with effect from April 12.
It has declared an interim dividend of ₹20 per share.
Its assets under management grew by 5.3 percent in the March 2021 quarter to ₹7,274 crore.
Stake purchase in the company by Rising Sun Holdings, Sanjar Chamaria and Mayank Poddhar has been approved by the Competition Commission of India.
It will issue 247 crore shares to the government at ₹16.6 per share, raising ₹4,100 crore.