Bain Capital acquires 10% stake in L&T Finance Holdings: Reports

Report says that this move is part of Bain Capital’s strategy to expand footprint in India.

Bain Capital has acquired about 10% stake in L&T Finance Holdings for Rs.1,305 crore through two transactions, according to reports.

Report says that this move is part of Bain Capital’s strategy to expand footprint in India.

The first transaction involves L&T Finance Holdings allotting equity shares and warrants on a preferential basis to BC Investments VI and BC Asia Growth Investments  respectively worth Rs.708 crore.

This translates into 5.27% stake (1.75% stake for equity and 3.51% stake for warrants) in L&T Finance Holdings on a fully diluted basis, says report.