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Business & Finance

India's L&T Finance to raise $280mn in IPO

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By Syed Murtaza Gheblehzadeh
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lt-holdingMUMBAI: India's L&T Finance Holdings, a unit of Indian engineering conglomerate Larsen & Toubro, will raise 12.45 billion rupees ($280 million) in an initial public offering that will be launched next week, a senior official said.

The company has set the share sale price band at 51-59 rupees a share, Y. M. Deosthalee, chief financial officer of Larsen & Toubro, told reporters on Thursday.

The offer will be open for anchor investors on July 26, while it will open for retail bids the next day.

Copyright AFP (Agence France-Presse), 2011

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