L&T Finance awaiting SEBI nod for IPO

L&T Finance Holdings today said it is awaiting the nod of the market regulator Securities and Exchange Board of India for its initial public offering to raise Rs 1,500 crore.

“L&T Infrastructure and L&T Finance Company are group entities of L&T Holdings, which is the parent company … we have already filed draft prospectus for an IPO … We are waiting for SEBI approval,” L&T Finance Senior Vice-President (Financial Services) N Sivaraman told reporters here.

The company officials were here to promote the long-term tax-saving infrastructure bonds launched on October 15 to raise up to Rs 700 crore from retail investors.

The issue of the ten-year maturity bonds was open till November 2, L&T Infrastructure Finance Chief Executive Suneet K Maheswari said.