L&T Finance : Outcome of Board Meeting - Rights Issue

January 18, 2021
National Stock Exchange of India Limited	BSE Limited
Exchange Plaza, 5th Floor,	Corporate Relations Department,
Plot No. C/1, G Block,	1st Floor, New Trading Ring,
Bandra-Kurla Complex,	P. J. Towers, Dalal Street,
Bandra (East), Mumbai - 400 051	Mumbai - 400 001
Symbol: L&TFH	Security Code No.: 533519

Kind Attention: Head- Listing Department/ Department of Corporate Communications

Subject: Intimation under Regulation 30 and 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations") and outcome of the meeting of the Board of Directors of L&T Finance Holdings Limited (the "Company")

Dear Sir / Madam,

This is further to the meeting of the Board of Directors of the Company (the "Board") held on November 9, 2020, approving the offer and issuance of fully paid-up equity shares of the Company (the "Equity Shares") for an amount not exceeding ₹3,000 crore, by way of a rights issue ("Rights Issue"), in accordance with the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, other applicable laws and our prior intimation dated January 13, 2021.

Pursuant to the above referred, we wish to inform you that the Board at its meeting held today, i.e., January 18, 2021 have inter alia considered and approved the following terms of the Rights Issue:

1. Instrument: Fully paid-up Equity Shares of face value of ₹10 each
2. Total number of Equity Shares and Rights Issue size: 46,13,25,021 fully paid-up Equity Shares each for amount aggregating to ₹ 2,998.61 Crore
3. Rights Issue Price: ₹ 65 per fully paid-up Equity Share [including a premium of ₹ 55 per Equity Share]
4. Record date: January 22, 2021 for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the Rights Issue ("Eligible Equity Shareholders")
5. Rights Issue period:
6. 1. Rights Issue Opening Date: February 1, 2021;
   2. Rights Issue Closing Date: February 15, 2021.

1. Outstanding Equity Shares:
2. 1. prior to the Rights Issue: 200,81,20,683 Equity Shares;
   2. post Rights Issue#: 246,94,45,704 Equity Shares.

#assuming full subscription

1. Rights entitlement ratio: 17:74 (17 Equity Shares for every 74 shares fully paid-up Equity Share held by the Eligible Equity Shareholders of the Company, as on the record date). If the shareholding of any of the Eligible Equity Shareholder is 5 or more, such shareholders will be entitled to at least 1 Equity Share. For example, if an Eligible Equity Shareholder holds 5 Equity Shares, such Equity Shareholder will be entitled to 1 (one) Equity Share and will also be given a preferential consideration for the allotment of one additional Equity Share if 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.
2. Other terms of the Rights Issue (including fractional and zero entitlements): To be included in the Letter of Offer to be filed by the Company with Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited.
3. ISIN for Rights Entitlement: INE498L20015

Additionally, the Board also approved the Letter of Offer to be filed with Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited.

Further, the Company satisfies the conditions specified in Regulation 99 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and the circulars issued by the Securities and Exchange Board of India to undertake the Rights Issue as a "fast track" issue.

The meeting of the Board commenced at 5.32 p.m. and completed at 6.21 p.m.

This intimation is issued in terms of Regulation 30 and 42 of the SEBI Listing Regulations.

The above information is also available on the website of the Company i.e.www.ltfs.com.

We request you to take the aforesaid on records.

Thanking you,

Yours faithfully,

For L&T Finance Holdings Limited

Apurva Rathod

Company Secretary and Compliance Officer