Leading non-banking finance firm, L&T Finance's Initial Public Offer (IPO) is likely to hit the market in the last quarter of FY 11, a senior company official said.
"All necessary approvals from the government have been received. We are keeping ourselves ready for the IPO and expect it to hit the market by the last quarter of FY 11," L&T's CFO, Y M Deosthalee, told reporters on the sidelines of an event here today.
The company aims to raise about Rs 1,500 crore through the IPO and plans to use the proceedings to expand its business by including new products and services, as well as entering into entirely new lines of business.
