Morgan Stanley Investment Management, Templeton, ICICI Prudential Life and HDFC Mutual Fund are among the bulgebracket investors to have bought into L&T Finance Friday, which successfully raised about Rs 1,000 crore in an exclusive share sale to institutions, two top market sources told ET.
“Both domestic and foreign institutional investors were keen to have their share of the pie as they see a great potential for non-banking finance companies amid sluggish bank-credit growth,” said one of the persons cited above. The company said to have received overwhelming response of more than Rs 1,700 crore for the issue.
L&T Finance spokesperson declined to comment. Individual banks could not be immediately reached. L&T Finance Holdings shares gained 0.8 per cent to close at Rs 160 on the BSE Friday. Citi Group, Edelweiss Financial Services, Motilal OswalBSE 1.18 % and JM Financial Services were the investment bankers for the sale
L&T Finance spokesperson declined to comment. Individual banks could not be immediately reached. L&T Finance Holdings shares gained 0.8 per cent to close at Rs 160 on the BSE Friday. Citi Group, Edelweiss Financial Services, Motilal OswalBSE 1.18 % and JM Financial Services were the investment bankers for the sale
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