India`s L&T Finance Holdings completes merger with subsidiaries
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India's L&T Finance Holdings has completed the merger of three of its subsidiaries - L&T Finance, L&T Infra Credit and L&T Mutual Fund Trustee - with itself, the company said on Monday.
With this, all the lending businesses will be housed under the single equity-listed operating entity of L&T Finance Holdings, the company said in a press release.
The respective boards of the companies had approved the merger in January this year.
The merger, effective Monday, has received the requisite approvals from shareholders, creditors, the Reserve Bank of India, National Company Law Tribunal, Securities and Exchange Board of India and stock exchanges, the company said.
