On June 13, a block deal involving approximately 8.82 crore shares of L&T Finance Limited took place. Shares of the company increased 5.2% after the deal, reaching a new 52-week high of Rs 179. The floor price is a 0.85 percent discount to the last closing price of Rs 170.62 per share.
As of 11:00 AM, L&T Finance share is currently 3.86% to Rs.177.30 on NSE.
In September of last year, Bain Capital sold a 2.82 percent interest in L&T Finance, equivalent to 7 crore shares, in a block sale for Rs 910. The shares were sold for Rs 130 each. Before the transaction, Bain Capital owned a 4.04 percent investment in L&T Finance through BC Asia Growth Investments and BC Investments VI. Following the transaction, Bain Capital’s stake in the company dropped to 1.2 percent.
The non-bank lender L&T Finance said on April 27 that its consolidated net profit for the fourth quarter of the financial year 2023–24 increased by 10.54 percent to Rs 553.88 crore. On a sequential basis, nevertheless, the net profit decreased by 13.5%.
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