L&T Finance Holdings Limited Rs. 2,998.61 Crore Rights Issue to Open on February 1, 2021

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·         Issue of up to 46,13,25,021 fully paid-up equity shares of face value of Rs. 10 each (“Equity Shares”) for cash at a price of Rs. 65 per Equity Share (including a premium of ₹ 55 per equity share) not exceeding Rs. 2,998.61 crore* on a rights basis (“Issue”).

·         The Equity Shares will be offered in the ratio of 17 Equity Share for every 74 Equity Share held by the eligible equity shareholders of the L&T Finance Holdings Limited (“Company”) as on the record date, that is January 22, 2021.

·         The Issue will close on February 15, 2021.

Mumbai, January 31, 2021: L&T Finance Holdings Limited, one of the leading private sector Non-Banking Financial Company (“NBFC”) in India, present in businesses such as rural finance, housing finance, infrastructure finance and investment management, through its wholly owned subsidiaries announces the opening of Rs 2,998.61 crore* Issue, on February 1, 2021.

*Assuming full subscription

The Company will issue up to 46,13,25,021 Equity Shares for cash, at a price of Rs. 65 per Equity Share (including a premium of ₹ 55 per equity share) not exceeding Rs. 2,998.61 crore* on a rights basis to eligible equity shareholders in the ratio of 17 Equity Share for every 74 Equity Share held on the record date, that is January 22, 2021.

*Assuming full subscription

The funds raised through the Issue will be used to repay certain commercial papers issued by the Company, infusion of funds in the Company’s subsidiary, for repayment of certain commercial papers issued by such subsidiary, redemption of preference shares issued by the Company and for general corporate purposes.

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Investors may contact the Registrar or the Company Secretary and Compliance Officer for any pre-Issue or post Issue related matter. All grievances relating to the ASBA process or R-WAP process may be addressed to the Registrar, with a copy to the SCSBs (in case of ASBA process), giving full details such as name, address of the Applicant, contact number(s), e mail address of the sole/ first holder, folio number or demat account number, number of Equity Shares applied for, amount blocked (in case of ASBA process) or amount debited (in case of the R-WAP process), ASBA Account number and the Designated Branch of the SCSBs where the Application Form or the plain paper application, as the case may be, was submitted by the Investors along with a photocopy of the acknowledgement slip (in case of ASBA process) and copy of the e-acknowledgement (in case of the R-WAP process). For details on the ASBA process and R-WAP process, see “Terms of the Issue” beginning on page 340 of the Letter of Offer dated January 19, 2021.

All investors/eligible equity shareholders proposing to apply in the Issue should refer to the Letter of Offer dated January 19, 2021, filed with BSE, NSE and SEBI, including sections “Terms of the Issue” and “Risk Factors” beginning on pages 340 and 17 of the Letter of Offer, respectively.

Axis Capital Limited, BOB Capital Markets Limited, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited and UBS Securities India Private Limited are acting as the lead managers to the Issue.

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All capitalized terms used herein shall, unless the context otherwise requires, have the meanings ascribed to such terms in the Letter of Offer dated January 19, 2021.