L&T Finance Holdings Ltd, in a newspaper advertisement anounced to change the size of planned IPO. The size of the IPO is now $ 392 million. Earlier in September 2010, when company filed draft with SEBI declared the size of IPO as $ 333 million.
The company is expecting to raise Rs. 4 billion through a pre IPO share placement. 2010 is considered as a good year in terms of foreign inflow to India. According to Thomson Reuters data, total $8.56 billion raised by Indian firms in 2010 through IPO. The data clearly shows the recovery of Indian economy. However, the company has shown attractive financials. The profit after tax of the company has increased from Rs. 9,833.01 lakhs in 2008-09 to Rs. 15647.25 lakhs in 2009-10.
For L&T Finance offer HSBC, Citigroup, JM Financial , Barclays Capital , and Credit Suisse are the arrangers. The favorable economic conditions and growth of the company are making the public offer attractive for investors.