 "L&T Finance Holdings gains as private equity firm eyes stake")
Shares of L&T Finance Holdings were up 5% at Rs 69.75 on the NSE in early morning trades on media reports that American private equity fund Warburg Pincus was in talks to purchase stake in the company.
The stock touched a high of Rs 70.40 so far and has seen a combined 3.7 million shares changing hands on the counter on the NSE and BSE till 0925 hours.
Both Warburg Pincus and L&T Finance, which have agreed to a deal up to 25% stake, are now negotiating on the price, the Economic Times report suggests. CLICK HERE TO READ FULL REPORT.
Earlier last month, L&T Finance Holdings, owned by India's largest engineering and constructions company Larsen & Toubro, said that the company meets various investors from time to time and the investors/stock exchanges would be informed as and when definitive developments take place.
The company had issued the clarification on news published in 'The Times of India' on June 10, 2015 titled 'Bain frontrunner to buy into L&T’s financial arm'.
The stock touched a high of Rs 70.40 so far and has seen a combined 3.7 million shares changing hands on the counter on the NSE and BSE till 0925 hours.
Both Warburg Pincus and L&T Finance, which have agreed to a deal up to 25% stake, are now negotiating on the price, the Economic Times report suggests. CLICK HERE TO READ FULL REPORT.
Earlier last month, L&T Finance Holdings, owned by India's largest engineering and constructions company Larsen & Toubro, said that the company meets various investors from time to time and the investors/stock exchanges would be informed as and when definitive developments take place.
The company had issued the clarification on news published in 'The Times of India' on June 10, 2015 titled 'Bain frontrunner to buy into L&T’s financial arm'.