Bain Capital to buy 15-20% stake in L&T Finance: Report

Bain may acquire 15-20% along with a board seat in the company, reports a financial newspaper.

Bain Capital is reportedly close to acquiring a US$300mn (~INR 2,000 crore) stake in L&T Finance Holdings, the financial services unit of L&T.

Bain may acquire 15-20% along with a board seat in the company, reports a financial newspaper.

L&T owns 72% in L&T Finance and has three board seats.
Bain, which had a limited period exclusivity to clinch the deal, will pay US$250-300mn for the transaction, according to the financial daily.

The deal is being concluded at INR 70-75 per share, it added.
L&T Finance Holdings shares closed at INR 64 on Friday.