BAJAJ BROKING

Notification
No new Notification messages
Vishal Mega Mart IPO is Open!
Apply for the Vishal Mega Mart IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

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

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

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.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text