Bain Capital offers 7.9 crore L&T Finance shares in block trade at Rs 128.1 per share: Report
Bain Capital is reportedly seeking $123 million in the block trade
- Aug 2, 2023,
- Updated Aug 2, 2023 10:09 PM IST
US-based investment firm Bain Capital has offered 7.9 crore shares in L&T Finance Holdings Ltd for block trade, said a report on Wednesday.
Floor price for the block trade has been set at Rs 128.1 per share, reported CNBC TV18 quoting Bloomberg. This represents 1.4% discount when compared to L&T Finance scrip's closing trading price of Rs 129.95 on Wednesday.
Bain Capital is reportedly seeking $123 million in the block trade.
In June, Boston-based Bain Capital sold 0.75% stake in private lender Axis Bank Ltd for Rs 2,150 crore.
Last month, Bain Capital said that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.
Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said.
Adani Capital is the non-banking financial arm of the Adani group which started its lending operations in 2017. Bain has committed $120 million for the arm and an additional liquidity line of $50 million in the form of Non-Convertible Debentures.
US-based investment firm Bain Capital has offered 7.9 crore shares in L&T Finance Holdings Ltd for block trade, said a report on Wednesday.
Floor price for the block trade has been set at Rs 128.1 per share, reported CNBC TV18 quoting Bloomberg. This represents 1.4% discount when compared to L&T Finance scrip's closing trading price of Rs 129.95 on Wednesday.
Bain Capital is reportedly seeking $123 million in the block trade.
In June, Boston-based Bain Capital sold 0.75% stake in private lender Axis Bank Ltd for Rs 2,150 crore.
Last month, Bain Capital said that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company.
Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said.
Adani Capital is the non-banking financial arm of the Adani group which started its lending operations in 2017. Bain has committed $120 million for the arm and an additional liquidity line of $50 million in the form of Non-Convertible Debentures.