On Monday, L&T Finance Holding Ltd (LTFHL) announced about raising ₹2,999 crores via rights issue having the entitlement ratio of 17:74 and at ₹65 per equity share. The rights issue will be opening on February 1 and closing on February 15. The rights issue price includes a premium of ₹55 per equity share.

As per the company’s regulatory filing, there are 17 equity shares for every 74 shares fully paid-up equity shares held by the eligible equity shareholders of the company, as on the record date, January 22. According to the company, if the shareholding of any of an eligible equity shareholder is more than 5, then such shareholder will be entitled to at least 1 equity share. For example, an eligible equity shareholder holds 5 equity shares. This equity shareholder will be entitled to one equity share and will also be given preferential consideration for the allotment of one additional equity share. If in case such eligible equity shareholder has applied for additional equity shares, over and above his/her rights entitlements, subject to availability of equity shares in the rights issue post allocation towards rights entitlements applied for.

According to the company, the outstanding equity shares of LTHFL currently is at about 200.81 crores. Assuming a full subscription, this will increase to about 246.94 crore equity shares, post rights issue.