Citigroup hikes stake in L&T Finance to 7.56% for nearly Rs 208 crore

Citigroup has increased its stake in financial services firm L&T Finance Holdings from 5.74% to 7.56% for about Rs 208 crore.

Citigroup Global Market Mauritius Private Limited purchased 3.18 crore shares or 1.82% of L&T Finance Holdings from the secondary market, a regulatory filing said. 

On Monday's closing market price, the transaction value stands at about Rs 208.8 crore, the company said.

Shares of the company were trading nearly 1% up or Rs 0.65 higher at Rs 66.25 a piece on the BSE on Tuesday.

Earlier this year, L&T Finance Holdings sold 5.27% stake to private equity firm Bain Capital through an issue of preferential shares and warrants for about Rs 708 crore.

Citigroup is an American multinational banking and financial services corporation headquartered in Manhattan in New York city.