L&T set to sell over 16.55 million shares in L&T Finance Holding

Engineering firm Larsen & Toubro (L&T) has proposed to sell over 16.55 million shares in L&T Finance Holdings at a floor price of Rs 74 per share, which translates into about 10% discount over Tuesday's closing price of Rs 81.90 on the NSE. Promoter Larsen & Toubro (L&T) share sale programme for diluting 0.95% of its stake, which has commenced on Wednesday, June 11, at the separate window of the stock exchanges, will end on the same day. In addition, the company may choose to sell up to 11,034,297 equity shares representing a 0.64% stake in L&T Finance. Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.