L&T Finance Holdings and group to raise Rs 15,000 cr for IPO finance

LTFHL is into services across rural, housing and wholesale finance businesses

L&T Finance Holdings (LTFHL) and its subsidiaries will raise a little over Rs 15,000 crore through commercial paper, a short-term money market instrument, and bonds to predominantly finance Initial Public Offers of equity.

LTFHL, through its subsidiaries, is into services across rural, housing and wholesale finance businesses. Its group entities also offer fund management and non-fund based services such as insurance and mutual fund distribution.

The entities rasing money through commercial paper are — L&T Finance up to Rs 9,000 crore, L&T Infrastructure Finance, Rs 5,000 crore and L&T Housing Finance, Rs 1,000 crore. LTFHL is raising about Rs 250 crore through