L&T Finance Holdings gains over 4% after merger of subsidiaries comes into effect -

L&T Finance Holdings gains over 4% after merger of subsidiaries comes into effect


Analysis Finance Market

L&T Finance Holdings Limited informed the exchanges Monday that the scheme of amalgamation by way of merger by absorption of L&T Housing Finance Limited (LTHFL) and L&T Infrastructure Finance Company Limited (LTIFC) (LTIFC together with LTHFL, the “Transferor Companies”) with L&T Finance Limited (LTFL), all wholly-owned subsidiaries of L&T Finance Holdings Limited (LTFH) came into effect from April 12, 2021.

Pursuant to the merger of LTHFL and LTIFC with LTFL, L&T Infra Debt Fund Limited, one of the subsidiaries of the company, may be required to undergo changes in the general character or nature of business / activities / shareholding structure which may include requirement of obtaining various approvals and making appropriate applications to the regulator, in this regard.

The company in a separate informed that the Board of Directors of L&T Finance Holdings Limited at its meeting held on Monday has approved the appointment of Ashish Malani as the Chief Risk Officer of the company in place of Tushar Patankar for a tenor of two years with effect from April 13, 2021.


At around 11.20 am, L&T Finance Holdings Ltd was trading at Rs92.40 up Rs3.85 or 4.35% from its previous closing of Rs88.55 per piece on the BSE.





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