In a move that is likely to raise many eyebrows, L&T Finance Holdings has fixed the Issue Price of its Initial Public Offer at Rs.52/- per equity share which is neighter at the upper end nor at the lower end of the price band. The Price Band was fixed at Rs.51/- to Rs.59/- per equity share

On the occasion, the Chairman of L&T Finance Holdings Y M Deosthalee said, “We are happy with the demand that the issue generated amongst all categories of investors, particularly given the market volatility. While the IPO received good demand at different price points within the price band, to reciprocate the confidence that over 600,000 applicants have placed in us we decided to price the issue at Rs 52. In line with L&T Group’s philosophy, this indicates our intention to build a long and mutually beneficial relationship with our prospective shareholders”

L&T Finance Holdings IPO, which closed for subscription on July 29, 2011, received subscription of more than 5 times on an overall basis and more than 9.5 times in the Retail Catergory

L&T Finance, a subsidiary of Larsen & Toubro, is likely to come up with an IPO soon. L&T Finance intends to utilise the proceeds from the issue to meet the capital adequacy requirements to support the future growth in their business and that of L&T Infra

L&T Finance is one of the leading NBFCs in the country and offers a wide spectrum of financial products and services for trade, industry and agriculture. L&T Finance Limited (LTF) is a subsidiary of Larsen and Toubro. It was incorporated as a Non Banking Finance Company in November 1994

According to the Company's website, L&T Finance offers a spectrum of financial products and services for trade, industry and agriculture. The company's focus segments are corporate products, construction equipment, CVs and tractors

Larsen & Toubro Ltd. is a USD 9.8 billion technology, engineering and construction group with operations spread across the globe. It was ranked as 14th by the Economic Times in their survey of the Top 500 Companies in India

L&T Finance, a subsidiary of Larsen & Toubro, is planning to come up with an IPO soon. L&T Finance is one of the leading NBFCs in the country and offers a wide spectrum of financial products and services for trade, industry and agriculture. It was incorporated as a Non Banking Finance Company in November 1994

Click here to download the Draft Red Herring Prospectus (DRHP) filed by the company with Securities and Exchange Board of India (SEBI)