₹₹₹Shares of L&T Finance Ltd. rose over 3% to trade at175.90 apiece on the NSE on Thursday after nearly 8.82 crore shares changed hands on the counter.At 9:20 am, L&T Finance share price was up 3.86% at177.20 on the NSE as against a 0.48% rise in the benchmark BSE Sensex.The buyers and sellers could not be ascertained immediately.That said, CNBC-TV18 on Wednesday reported that private equity major Bain Capital, through its affiliates BC Asia Investment VI and BC Asia Growth Investment, is planning to make a complete exit from L&T Finance by selling its existing stake via the block deal route.Bain Capital was looking to divest its 3.54% stake at a floor price of ₹169.17 per share, sources privy to the developments told CNBC-TV18.Joining Bain Capital in this transaction is BNP Paribas Financial SNC.
The deal is with a base price valuation of ₹1,500 crore, sources close to the development said.Last year in September, Bain Capital had sold 2.82% stake in L&T Finance for910 crore.
Until then, Bain Capital had held a 4.04% stake in L&T Finance through BC Asia Growth Investments and BC Investments VI.Following the stake sale, Bain Capital's shareholding in the firm fell to 1.2%.
BNP Paribas Financial Markets held 2.43% stake in the NBFC as of March 31, 2024.The L&T Finance stock has risen 13% in the last one month and gained 5% so far this year.
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Shares of L&T Finance Ltd. rose over 3% to trade at175.90 apiece on the NSE on Thursday after nearly 8.82 crore shares changed hands on the counter.At 9:20 am, L&T Finance share price was up 3.86% at177.20 on the NSE as against a 0.48% rise in the benchmark BSE Sensex.The buyers and sellers could not be ascertained immediately.That said, CNBC-TV18 on Wednesday reported that private equity major Bain Capital, through its affiliates BC Asia Investment VI and BC Asia Growth Investment, is planning to make a complete exit from L&T Finance by selling its existing stake via the block deal route.Bain Capital was looking to divest its 3.54% stake at a floor price of ₹169.17 per share, sources privy to the developments told CNBC-TV18.Joining Bain Capital in this transaction is BNP Paribas Financial SNC. The deal is with a base price valuation of ₹1,500 crore, sources close to the development said.Last year in September, Bain Capital had sold 2.82% stake in L&T Finance for910 crore. Until then, Bain Capital had held a 4.04% stake in L&T Finance through BC Asia Growth Investments and BC Investments VI.Following the stake sale, Bain Capital's shareholding in the firm fell to 1.2%. BNP Paribas Financial Markets held 2.43% stake in the NBFC as of March 31, 2024.The L&T Finance stock has risen 13% in the last one month and gained 5% so far this year.
