“We are working at it. It may take some time. Our current target is to complete the IPO (initial public offering) of L&T Finance Holdings Ltd,” L&T Finance Holdings President & Director (whole time) N Sivaram told IANS.
L&T is planning to launch the private equity fund as a part of a strategy to become a financial supermarket. L&T Finance Holdings is raising up to Rs 1,245 crore to repay inter-corporate deposits raised from parent L&T and augmenting the capital of subsidiaries.
Sivaraman said the price band is fixed between Rs 51 and Rs 59 per equity share of Rs10 each.The issue opens on July 27 and closes on July 29, the company said.