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L&T to raise Rs 2000 crore through IPO of its IT arm

03 Aug 2015 Evaluate

Construction and engineering conglomerate Larsen & Toubro (L&T) is planning to raise about Rs 1,500-2,000 crore through an initial public offering (IPO) of its IT arm L&T Infotech.

L&T intends to file a draft red herring prospectus (DRHP), or the initial papers, for an IPO of its IT unit by late August or early September. The conglomerate intends to list L&T Infotech by December.

Meanwhile, L&T has appointed Citibank, Barclays and Kotak Bank as advisors for the IPO.

Peers
Company Name CMP
Larsen & Toubro 3620.50
Kalpataru Projects 1403.00
NCC 119.95
Rail Vikas Nigam 187.10
KEC International 349.85
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