The grading reflects strong consolidated financial position, comfortable liquidity position with strong resource raising ability and good asset quality of its subsidiaries. L&T Finance is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through its direct and indirect wholly-owned subsidiaries.
The company intends to use the proceeds of the issue to augment the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio, and for other general corporate purposes. JM Financial, Citigroup and HSBC are among the book running lead manager to the issue
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