L&T’s infra arm to sell stake upto 20%: Report

L&T Infrastructure Development Projects, the infrastructure arm of Larsen & Toubro (L&T), is reportedly planning to raise over 2,500 crore by selling 20% of its stake. In this regard, the company is in advanced talks with marquee investors, including Malaysian sovereign fund Khazanah.

The proposed transaction will value the infrastructure company at around Rs 12,500 crore, or just under $2 billion, making it one of the larger fund-raising exercises in recent times.

L&T Infrastructure Development Projects (L&T IDPL) is a major player in Public Private Partnership (PPP) projects in India with business interests across Roads & Bridges, Ports, Metro Rail, Wind Energy and emerging sectors such as development of Power Transmission Lines, Water & Railways.