India L&T Finance's share offer subscribed 3.2 times

MUMBAI, June 11 Wed Jun 11, 2014 11:28am EDT

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MUMBAI, June 11 (Reuters) - A share sale by India's L&T Finance Holdings Ltd to raise at least $34 million on Wednesday saw investors bidding for 3.2 times the number of shares on offer, according to stock exchange data.

L&T Finance, a unit of engineering conglomerate Larsen & Toubro, saw demand for 87.9 million shares versus the 27.6 million shares it was offering at a base price of 74 rupees apiece, the data showed.

The Indian units of Goldman Sachs and Citigroup were the bookrunners for the offering. (Reporting by Sumeet Chatterjee; Editing by Mark Potter)

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