L&T Finance offer for sale kicks off; shares fall 4%

The floor price of the offer for sale has been kept at Rs 70 per share

FP Staff|Mar 14, 2014, 09:41:22 IST

[caption id="attachment_79166" align="alignleft" width="380"] The floor price of the offer for sale has been kept at Rs 70 per share. AFP[/caption]

L&T Finance Holdings Ltd has kicked off its share sale to raise at least Rs 583 crore. The company has offered more than 8.3 crore shares for sale.

The floor price of the offer for sale has been kept at Rs 70 per share.

L&T Finance Holding, a listed entity, is part of conglomerate Larsen & Toubro.

The company plans to sell over 8.33 crore shares tomorrow. At the floor price of Rs 70 a piece, the sale could fetch at least Rs 583 crore, according to a PTI report.

Shares of L&T Finance fell 4 percent in early trades to Rs 76.10.

With inputs from PTI

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