Larsen and Toubro (L&T) is reportedly planning to raise Rs 3,600 crore through qualified institutional placement (QIP). In this regard, the company is seeking approvals to authorize its board to raise funds through issue of equity shares through QIP, convertible bonds, equity shares through depository receipts.
Moreover, the company is expected to sell shares worth at least $5 to institutional investors in the next two months, riding on improved sentiment and liquidity in the equity market and hopes that the new government will revive the economy through reforms.
Larsen & Toubro (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.
