Bain Capital to Invest INR13 Billion in India-based L&T Finance Holdings (Asia)

Source: L&T Finance Holdings, National Stock Exchange

Global alternative investment firm Bain Capital has agreed to invest INR13 billion (approximately US$198 million) for a 10.3 percent stake in India-based non-bank financial company L&T Finance Holdings. Bain will subscribe to equity shares and warrants totaling a 5.3 percent stake in the company for approximately INR7 billion (approximately US$107 million). Separately, Bain has invested INR6 billion (approximately US$91 million) via a bulk trade for a five percent stake in the company. While the bulk trade investment has closed, the share issue is subject to shareholder and regulatory approval.