L&T Finance Holdings has raised approx Rs.2,000 crore, via preferential allotment of shares to its promoter L&T.

In a BSE filing L&T Finance Holdings stated, “The company has today completed the preferential allotment to Larsen & Toubro Ltd of 10.78 crore equity shares of Rs.10 each at the issue price of Rs.185.51 per share.”

It further said that, the capital invested by the promoter will help in funding the growth of its focused lending businesses: rural finance, housing finance and wholesale finance and also strengthen the capital adequacy of the company.

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