L&T Finance, the non-banking financial company of L&T is planning to file Draft Red Herring Prospectus (DRHP) for Rs 1500 crore initial public offering (IPO), reports CNBC-TV18 quoting NewsWire18.
L&T Finance had listed its non-convertible debentures (NCDs) on the NSE a year ago, closed today at Rs 1085 as against a face value of Rs 1,000 per debenture.
L&T Finance to file DRHP for Rs 1500 cr IPO
Earlier on August 30 this year, AM Naik chairman of the company had said in an exclusive interview to CNBC-TV18 , "Our IPO will be coming late this year. So, I think investor will know our run rate of profit. L&T brand, which everybody knows is a super brand, also people attach a lot of trust on the world L&T. So, therefore, when they have to come to invest, they feel little more comfortable. So, there is a brand value attached to it, there is a trust value associated with it, there is company’s results, which are far better than I would atleast have expected. By end of the year the picture will be clear, so people will begin to see value."
Market Watch
Tuesday, September 28, 2010
L&T Finance to file DRHP for Rs 1500 cr IPO
6:44 PM
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