Objects of the Issue:

The object of the issue are:

1. Repayment of inter corporate deposit issued by Promoter to the Company;
2. To augment the capital base of L&T Finance and L&T Infra, to meet the capital adequacy requirements to
support the future growth in their business;
3. To achieve the benefits of listing on the Stock Exchanges; and
4. For other general corporate purposes including meeting the expenses of the Issue.

Issue Detail:

Issue Open: Jul 27, 2011 - Jul 29, 2011

Issue Type: 100% Book Built Issue IPO
Issue Size: Equity Shares of Rs. 10
Issue Size: Rs. 1,245.00 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 51 - Rs. 59 Per Equity Share
Market Lot: 100 Shares
Minimum Order Quantity: 100 Shares
Listing At: BSE, NSE

L&T Finance Holdings Ltd IPO Grading

CARE / ICRA has assigned an IPO Grade 5 to L&T Finance IPO. This means as per CARE / ICRA, company has
'Strong Fundamentals'. CARE / ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong
fundamentals and Grade 1 indicating poor fundamentals. Read L&T Finance Holdings IPO Grading Report

L&T Finance IPO Reviews:

1.

ARM Research Pvt. Ltd says 'Subscribe' to L&T Finance Holdings Limited IPO

2.

MLR Securities Private Ltd says 'Subscribe' to L&T Finance Holdings Limited IPO

Issue Subscription Detail / Current Bidding Status

Number of Times Issue is Subscribed (BSE + NSE)
Qualified
Institutio
nal
Buyers
(QIBs)

Non
Institutio
nal
Investors
(NIIs)

Retail
Individua
l
Investors
(RIIs)

Employee
Reservatio
ns

75,382,4
16

31,617,6
47

73,774,5
10

10,204,08
2

23,529,4
12

214,508,0
67

Day 1 - Jul 27, 2011

17:00 IST

0.6400

0.3900

0.4600

0.0300

0.1700

0.4600

Day 2 - Jul 28, 2011

17:00 IST

0.7200

0.5000

2.2100

0.5100

0.9600

1.2200

Day 3 - Jul 29, 2011

19:45 IST

1.9300

6.1800

9.6100

1.5300

3.3500

5.3400

As on Date & Time

Shares Offered /
Reserved

Others

Total

Analysts view :

Read more at: http://www.moneycontrol.com/news/ipo-listing-strategy/atprice-will-lt-finance-list-expertsanalyse_575694.html?utm_source=ref_article

Moneycontrol > News > Stocks Aug 12, 2011, 08.31 AM IST
At what price will L&T Finance list?
Experts analyse As investors eagerly wait, guessing the price at which L&T
Finance Holdings would list on August 12, moneycontrol.com speaks to analysts
and quizes them about what they think the listing price should be.
Sunil Matkar moneycontrol.com
L&T Finance Holdings , a subsidiary of engineering and construction major
Larsen and Toubro will be listing its equity shares on Friday, August 12. The
company has fixed the issue price at Rs 52 a share as against the price band of
Rs 51-59 a share. The company has distributed equity shares at different price
levels to different investors. Qualified institutional investors, non-institutional
investors, retail and L&T shareholders received shares at Rs 52 a share. While
anchor investors were allotted shares at Rs 56higher than the issue price and
pre-IPO placement to Capital International of the US, which was done at Rs 55 a
share. Employees received shares at Rs 50a discount of Rs 2. As investors
eagerly wait, guessing the price at which it would list, moneycontrol.com speaks
to analysts and quizes them about what they think the listing price should be.
Investment advisor SP Tulsian said the stock should list around Rs 56-57, and
Manish Bhatt of Prabhudas Lilladher agrees saying he sees an upside of around
10% on listing. But IPO analyst Arun Kejriwal has a contrarian view. He said L&T
Finance would list below the issue price and stay around Rs 47-49 a share during
the day. "The company has a well-established infrastructure finance business. Its
financial product distribution business is also growing at a rapid pace. The strong
promoter background also helps in raising funds at competitive rates. At an issue
price of Rs 52, the stock can provide good long-term returns to investors despite
the current volatility in the stock market," said SMC Investment and Advisors.
As a long-term strategy, both Tulsian and Bhatt asked investors to buy on dips.
"On listing day, the stock may see selling pressure from high networth
individuals and retail investors. But it's better to not look for listing gains and
keep it in one's portfolio," Bhatt said. Parent company Larsen and Toubro's stake
in the company reduced to 83% post the issue. US-based private equity fund
Capital International holds 4.06% stake. The company intends to use issue

proceeds for augmenting 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. YM Deosthalee has be appointed CMD of the finance arm.
sunil.matkar@network18online.com
Read more at: http://www.moneycontrol.com/news/ipo-listing-strategy/atpricewill-lt-finance-list-experts-analyse_575694.html?utm_source=ref_article