L&T Finance Holdings to issue securities; may fetch Rs 621-cr

L&T Finance Holdings today said it will allot securities on preferential basis to two investors, that could fetch an estimated Rs 621 crore at current market price.
In a regulatory filing the company said that the allotment was approved today at the meeting of its Board of Directors.
"Board of Directors...Has approved the allotment of 3,18,36,971 equity shares to BC Investments VI Limited and 6,38,20,990 share warrants (warrants) to BC Asia Growth Investments, on a preferential basis," it said in the filing.
Calculated on the basis of today's stock close price of Rs 64.90 on BSE, the allotment could fetch Rs 620.82 crore.