At 9:48 hours IST, the stock was trading at Rs 51.35, down 1.25%. It has touched a high of Rs 53.85, which was the opening price and low of Rs 49.30 a share.
Traded volume on the National Stock Exchange was more than three crore equity shares.
CMD of L&T, AM Naik said L&T Finance's contribution in the entire group would go up to 30% from 10% in future.
L&T Finance received Rs 1,245 crore through the issue. Parent company L&T's stake in the company reduced to 83% post issue.
Company intends to use issue proceeds for augmenting the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio.
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