LT Finance launches Rs 1,500 cr NCD issue
The base size of the issue is Rs 500 crore, with an option to retain over-subscription of up to Rs 1,000 crore, the company said on December 11.11-12-2019
11-12-2019
L&T; FINANCE HOLDINGS LTD. - 533519 - Proposed Public Issue Of Secured Redeemable Non-Convertible Debentures And/Or Unsecured Subordinated Redeemable Non-Convertible Debentures Eligible For Tier II Capital ('Ncds') Aggregating Up To Rs. 5,000 Crore, In One Or More Tranches, By L&T; Finance Limited, A Material Subsidiary Of The Company
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Committee of Directors of L&T; Finance Limited, the material subsidiary of the Company, vide resolution dated December 9, 2019 has approved: 1. the Shelf Prospectus dated December 9, 2019, in connection with the issue of secured redeemable non-convertible debentures and/or unsecured subordinated redeemable non-convertible debentures eligible for Tier II Capital of face value of Rs. 1,000 each, with a shelf limit of Rs. 5,000 crore; 2. the Tranche I Prospectus dated December 9, 2019, in connection with the issue of Secured Redeemable Non-Convertible Debentures of face value of Rs.1,000 each for an amount of Rs. 500 crore with an option to retain oversubscription up to Rs. 1,000 crore aggregating up to Rs. 1,500 crore. Necessary filing has been done with Registrar of Companies, Kolkata ('ROC') and the same has been taken on record by ROC.11-12-2019
L&T; Finance Holdings Ltd - 533519 - Announcement under Regulation 30 (LODR)-Allotment
With reference to our earlier letter dated November 29, 2019 read with letter dated December 2, 2019, we wish to inform you that the Committee of Directors of L&T; Finance Holdings Limited has approved today i.e. December 5, 2019, allotment of 60,00,000 Cumulative Compulsorily Redeemable Non-Convertible Preference Shares ('CRPS') of face value of Rs. 100 each at par aggregating to a nominal amount of Rs. 60,00,00,000 on a private placement basis to identified investors (base issue size: Rs. 50,00,00,000 with option to retain over subscription up to Rs. 10,00,00,000 aggregating to a maximum of Rs. 60,00,00,000 in accordance with the Information Memorandum dated December 2, 2019). We request you to take the above on record and the same be treated as compliance under Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.05-12-2019
L&T; Finance Holdings Ltd - 533519 - Issue Of Up To 60,00,000 Cumulative Compulsorily Redeemable Non-Convertible Preference Shares Of Rs. 100 Face Value At Par And Aggregating Up To Rs. 60,00,00,000 On A Private Placement Basis - Information Memorandum
Pursuant to the requirements of provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013, and further to our letter dated November 29, 2019, please find enclosed the Information Memorandum dated December 2, 2019 in connection with the Issue wherein the tenor of the Issue, date of allotment of the Issue and date of redemption of the Issue shall be 1096 days from the date of allotment, December 5, 2019 and December 5, 2022 respectively. Thus our letter dated November 29, 2019 stands amended accordingly. We request you to take the aforesaid on record.02-12-2019
L&T; FINANCE HOLDINGS LTD. - 533519 - Outcome- Approval By The Committee Of Directors Of L&T; Finance Holdings Limited ('Company') For Raising Funds Through Offer And Issuance Of Cumulative Compulsorily Redeemable Non-Convertible Preference Shares On A Private Placement Basis ('Issue')
Pursuant to the requirements of provisions of Regulation 30, and Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), we wish to inform you that the Committee of Directors of the Company today i.e. Friday, November 29, 2019, through a resolution passed by circulation in accordance with the requirements of the Companies Act, 2013 (approval received from all members by 4.31 p.m.) approved the offer and issuance of up to 60,00,000 Cumulative Compulsorily Redeemable Non-Convertible Preference Shares ("CRPS") of face value of Rs. 100 at par aggregating to a nominal amount of up to Rs. 60,00,00,000 on a private placement basis at the dividend rate of 7.60% p.a. payable annually.29-11-2019
L&T; FINANCE HOLDINGS LTD. - 533519 - Committee Of Directors To Approve Offer For Issuance Of Cumulative Compulsorily Redeemable Non-Convertible Preference Shares On A Private Placement Basis ("Issue")
Pursuant to the requirement of provisions of Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that the Committee of Directors of the Company will approve raising of funds through proposed Issue aggregating up to Rs. 60,00,00,000 and determine the issue price for the proposed Issue on November 29, 2019. We request you to take the aforesaid on record and the same be treated as compliance under the applicable provisions of the Listing Regulations.26-11-2019
L&T; Finance Holdings Ltd - 533519 - Committee Of Directors To Approve Offer For Issuance Of Cumulative Compulsorily Redeemable Non-Convertible Preference Shares On A Private Placement Basis ("Issue")
Pursuant to the requirement of provisions of Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that the Committee of Directors of the Company will approve raising of funds through proposed Issue aggregating up to Rs. 60,00,00,000 and determine the issue price for the proposed Issue on November 29, 2019. We request you to take the aforesaid on record and the same be treated as compliance under the applicable provisions of the Listing Regulations.26-11-2019
L&T; Finance Holdings Ltd - 533519 - Compliance Under Regulation 23(9) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
In terms of Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed disclosure of related party transactions on a consolidated basis, in the format specified in the relevant accounting standards for the half year ended September 30, 2019.15-11-2019
L&T; FINANCE HOLDINGS LTD. - 533519 - Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
Intimation of sale of 100% stake in L&T; Capital Markets (Middle East) Limited, wholly owned subsidiary of the Company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 201514-11-2019
L&T Finance Holdings, Oberoi Realty announce weak results
L&T; Finance Holdings announced September quarter results showing a sharp decline in net profit YoY, which fell by over 68% even as revenue growth rose 11.2%. Operating profit grew by single digits at 8%, compared to double digit growth in previous quarters. Net profits fell following a one time adjustment due to the deferred tax assets (DTA) after cut in corporate tax. Under the fresh reduced tax guidelines, businesses that have taken higher provisions and created Deferred Tax Assets (DTA) at 34.9% must revise the tax rate to 25.17%, leading to a one-time P&L; (profit & loss) charge of 9.77%. The company expects the tax rate impact to be lower going forward for FY20. Real estate firm Oberoi Realty, whose share price was rising ahead of results, saw both revenue and net profit growth fall in its YoY September quarter numbers. Revenue growth fell 17% while net profit sunk 35.7% YoY. Other expenses jumped in the quarter to Rs. 1285.5 crore. See full result analyzer.21-10-2019