Shares of L&T Finance Holdings climbed 9 percent intraday Tuesday. Sources told CNBC-TV18 that US private equity firm Warburg Pincus is in talks to buy 25 percent equity stake in the company. The deal with L&T Finance will trigger an open offer, if successful but L&T , the parent company, will continue to retain majority stake in company, said sources. The PE firm is also in talks with more than one financial services player and is keenly looking to acquire significant interest in business and finance services companies. Media report indicated that the financial services arm of L&T has pitched for a deal price of Rs 83 per share and the offer price translates to a deal size of Rs 3,574 crore for a 25 percent stake. However, L&T Finance said it does not comment on speculative news reports. "We regularly meet investors as part of our investor relations exercise," it reasoned. Larsen and Toubro holds 72.95 percent stake in L&T Finance Holdings (as of June 2015) that reported a profit of Rs 854.7 crore on revenue of Rs 6,196.2 crore in the financial year 2014-15. At 09:50 hours IST, the scrip of L&T Finance Holdings was quoting at Rs 71.85, up Rs 5.40, or 8.13 percent on the BSE.
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