Shares of L&T Finance gained 3.5% on Thursday to close at Rs 170.60. The stock has rallied 10% in the last three months compared to a 4% gain in the Sensex index.
Two entities of Bain Capital — BC Asia Growth Investments and BC Investments VI — along with BNP Paribas Financial Markets, will together sell a 3.54% stake on Thursday.
In September last year, Bain Capital sold a 2.82% stake, or 7 crore shares, in the company for Rs 910 crore through a block deal. The shares were sold at Rs 130 apiece. Until then, Bain Capital had held a 4.04% stake in L&T Finance through BC Asia Growth Investments and BC Investments VI. Following the stake sale, Bain Capital’s shareholding in the company fell to 1.2%. BNP Paribas Financial Markets held 2.43% stake in the NBFC as of March 31, 2024.
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