Bain Capital offers 7.9 crore L&T Finance shares in block trade

According to a report on Wednesday, 7.9 crore shares of L&T Finance Holdings Ltd have been offered for block trade by US investment firm Bain Capital at a floor price of Rs 128.1 per share. The block trade’s floor price is 128.1 per share.

This represents 1.4% discount when compared to L&T Finance scrip's closing trading price of Rs 129.95 on Wednesday. According to reports, the American investment firm intends to pay $123 million for the block deal.

From Rs 262 crore a year ago to Rs 530.93 crore for the first quarter of FY24, L&T Finance Holdings reported a staggering 102.6 percent increase in consolidated net profit. 

The company’s revenue from operations climbed 7.86 percent to Rs 3,223.3 crore in the June quarter of FY24 from Rs 2,988.4 crore a year back.

Source: Media Reports