Bain Capital and BNP Paribas to Sell ₹1,500 Cr Stake in L&T Finance

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Synopsis:

Bain Capital and BNP Paribas are selling their entire 3.54% stake in L&T Finance, amounting to 8.82 crore shares, at ₹169.17 each, totalling ₹1,500 crore ($180 million) in a block deal, slightly below Wednesday's closing price.

L&T Finance News Today

On Thursday, US-based investment firm Bain Capital and French banking giant BNP Paribas are set to divest their remaining stake in L&T Finance Holdings through block deals, marking a significant move in the financial markets.

Explore:L&t Finance Limited Share Price

Details of the Stake Sale

Bain Capital and BNP Paribas will collectively sell 8.82 crore shares of L&T Finance Holdings, representing a 3.54% stake in the company. The sale is scheduled at a price of ₹169.17 per share, amounting to approximately ₹1,500 crore ($180 million).

This price reflects a slight discount of 0.85% from the closing price of ₹170.60 on Wednesday.

Background and Previous Transactions

Previously, Bain Capital had gradually reduced its stake in L&T Finance Holdings, having sold a 2.82% stake (7 crore shares) in September last year at ₹130 per share, totalling ₹910 crore.

This sale reduced Bain Capital's ownership in the company to 1.2%. Meanwhile, BNP Paribas Financial Markets held a 2.43% stake in L&T Finance as of March 31, 2024.

Market Impact and Investor Response

Over the past week, the stock has gained about 10%, outperforming the Sensex index, which rose by 2.5% during the same period. This indicates investor confidence despite the upcoming stake sale.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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