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The Board of L&T Finance Holdings at its meeting held on 18 January 2021 has approved the terms of the proposed rights issue as under:
a. Instrument: Fully paid-up Equity Shares of face value of Rs10 each
b. Total number of Equity Shares and Rights Issue size: 46,13,25,021 fully paid-up Equity Shares each for amount aggregating to Rs 2,998.61 Crore
c. Rights Issue Price: Rs 65 per fully paid-up Equity Share [including a premium of Rs 55 per Equity Share]
d. Record date: 22 January 2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue (Eligible Equity Shareholders)
e. Rights Issue period:
1. Rights Issue Opening Date: 1 February 2021;
2. Rights Issue Closing Date: 15 February 2021.
f. Outstanding Equity Shares:
1. prior to the Rights Issue: 200,81,20,683 Equity Shares;
2. post Rights Issue#: 246,94,45,704 Equity Shares.
#assuming full subscription
g. Rights entitlement ratio: 17:74 (17 Equity Shares for every 74 shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date). If the shareholding of any of the Eligible Equity Shareholder is 5 or more, such shareholders will be entitled to at least 1 Equity Share. For example, if an Eligible Equity Shareholder holds 5 Equity Shares, such Equity Shareholder will be entitled to 1 (one) Equity Share and will also be given a preferential consideration for the allotment of one additional Equity Share if such Eligible Equity Shareholder has applied for additional Equity Shares, over and above his/her Rights Entitlements, subject to availability of Equity Shares in the Rights Issue post allocation towards rights entitlements applied for
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