Web Sify
Follow us on

L&T Finance to raise $65 mln in Federal Bank stake sale - Source

Source : REUTERS
Last Updated: Mon, Nov 26, 2012 11:28 hrs
Larsen cuts FY12 order growth target, shares fall

L&T Finance Holdings Ltd plans to raise about $65 million by selling its 4.7 percent stake in private sector lender Federal Bank , according to a source and a term sheet obtained by Reuters.

ce, the financial services arm of Indian engineering conglomerate Larsen and Toubro , will sell 7.9 million shares, priced between 450 rupees and 469.75 rupees a share, representing a discount of 0-4.2 percent to Monday's close, the term sheet showed.

Citigroup is the sole bookrunner to the transaction, it said.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance