mumbai lt finance holdings the financial services arm of the lt group has set an indicative price band of rs 51 to rs 59 per share for raising rs 1245 crore 280 million through its ipo setting the stage for the launch of indias largest listing this yearthe subsidiary of the construction and engineering giant larsen toubro lt has cut its public issue size by 10 or rs 175 crore as per its redherring prospectus owning to weak market conditionsthe issue which opens on july 27 and closes on 29 will be priced in the range of rs 51 to 59 this is the first public issue from the house of lt since the parents listing way back in 1950 lt finance holdings chairman and group chief financial officer y m deosthalee said before the start of subscriptions to the ipo lt finance plans to sell shares worth rs 160 crore to anchor or cornerstone investors said n sivaraman senior vice president of financial services at larsen toubro this placement will reduce the net issue to the public earlier lt finance raised rs 330 crore via preipo placementthe issue including the preipo placement of shares and those to cornerstone investors will result in a dilution of about 17 in the companys postissue paidup capital said deosthaleelt finance holdings is the holding company for the financial services business of the group and operates through four units that manage the mutual fund asset financing infrastructure financing and working capital funding businesseshsbc citigroup jm financial barclays capital credit suisse and equirus capital are the arrangers to the lt finance offer