Live Webinar on "How to Invest successfully to reach goals without losing sleep" Sign up for Live Webinar
Did you know?
What made us buy IEX@193, Tata Power@56, Titan@330, Divis@629, Persistent@700.

Canada Pension Plan Investment Board invests Rs 1,000 crore in L&T IDPL

18 Dec 2014

Larsen & Toubro (L&T) and Canada Pension Plan Investment Board (CPPIB) have completed the definitive investment agreement entered into in June 2014. The agreement was made between L&T and a wholly-owned subsidiary of CPPIB, for investment into L&T’s subsidiary - L&T Infrastructure Development Projects (L&T IDPL).

CPPIB, through a subsidiary, has made an initial investment of Rs 1,000 crore in L&T IDPL on December 16, 2014 by way of subscription to compulsorily convertible preference shares. A second tranche of Rs 1,000 crore, or such higher amount as may be agreed between L&T IDPL and CPPIB’s subsidiary, will be invested after twelve months from the date of the initial investment, subject to any required regulatory approvals at such time.

This is the first direct private investment by a Canadian pension fund into an Indian infrastructure development company.

Related Larsen & Toubro Ltd. Links:

Larsen & Toubro Share Price

1879.70 55.75 (3.06%) Dec 09, 18:01
1 Year Price Chart
Company Name CMP
Larsen & Toubro 1879.70
Rail Vikas Nigam 36.30
KEC International 442.15
NCC 77.00
Ircon International 46.70
View more..
Sensex vs Larsen & Toubro
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323