L&T Finance shares surge 5% after Bain Capital dilutes stake via block deal
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Shares of L&T Finance rallied 5% in early Thursday trading to reach its all-time high of Rs 179 after Bain Capital offloaded 8.82 crore shares of the company via a block deal. According to reports, the private equity major Bain Capital, through its affiliates BC Asia Investment VI and BC Asia Growth Investment, was planning a complete exit from L&T Finance by selling its existing stake via the block deal route. Bain Capital offloaded its 3.5% stake in L&T Finance. The market capitalization of L&T Finance was Rs 44,344.04 crore around 9:30 am. Also read: Another block deal in IndiGo, 5 lakh shares change hands; stock flat The information of the buyers and sellers in the transaction is currently not available with the exchanges. However, according to reports, BNP Paribas Financial SNC is also involved in the transaction, offloading a certain stake in L&T Finance alongside Bain Capital. The deal is reportedly based on a v...