L&T Finance falls on buzz that Citigroup is selling stake

L&T Finance Holdings Ltd fell as much as 3.9 per cent in early trade to its lowest level in a week on the buzz that Citigroup was planning to sell 39.2 million shares, or 2.15 per cent stake in the company, worth Rs 737 crore, according to an IFR report.

Citigroup, according to the report, is selling shares in the range of Rs 180.50-188.05 apiece, a discount of as much as 4 per cent to the stock's Monday close.

More than 33 million L&T Finance shares would be changing hands on the NSE in a single block deal, besides several other block deals in stock.

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