New Delhi: L&T Finance Holdings plans to raise up to Rs 2,000 crore by issuing preference shares. The company said in its 2019-20 annual report that these shares would be allocated through public offerings or private placement.
The company will seek permission from shareholders at its virtual annual general meeting on July 28 on this plan. According to the company’s report, it will use this amount for business expansion. Under this, 20 crore cumulative compulsorily redeemable non-convertible preference shares will be allocated. Their face value will be Rs 100 per share. Preferential shares will be issued to various investors in one or several phases through public offerings or through private placement.
