INSUBCONTINENT EXCLUSIVE:
Mumbai: LT Finance Holdings Thursday announced early closure of its bond issue following a 4.5 times oversubscription, raising a little over
Rs 2,228 crore.
The issue was opened on March 6 and was scheduled to close on March 20
The base size of the issue was Rs 500 crore, with an option to retain over-subscription up to Rs 1,000 crore.
"We raised a total of Rs
2,228.06 crore with an subscriptions of 4.45 times
HNIs and retail investors' participation in the first tranche led to an oversubscription of 6.64 times and 6.68 times in respective
categories as on the early closure Thursday," the company said in a statement.
In the first tranche, the company offered three bonds
maturing in 37 months, 60 months and 120 months offering a coupon in the range of 9.10-9.35 percent for retail investors, and 9-9.20 percent
for institutional investors.
Announcing the issue, managing director and chief executive Dinanath Dubhashi had said the issue was aimed
diversifying liability mix.
"Like we have retailised our asset side, this is the first step in retailisation of our liability side," he had
