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Larsen & Toubro (L&T) has entered into an amendment agreement with Canadian Pension Plan Investment Board (CPPIB) with respect to the original Investment Agreement entered into with them in 2014 under which CPPIB had invested in Compulsorily Convertible Preference Shares (CCPS) issued by L&T Infrastructure Development Projects (L&T IDPL), a wholly owned subsidiary of L&T.

As per the amendment agreement, the CCPS held by CPPIB will, upon conversion, give them 48.99% equity stake in L&T IDPL.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.

Peers
Company Name CMP
Larsen & Toubro 3699.10
Kalpataru Projects 1393.45
NCC 125.10
Rail Vikas Nigam 190.50
KEC International 369.70
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