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L&T gains on the buzz of raising Rs 25,000 crore by divesting stake in Infra arm

18 Mar 2013

Larsen & Toubro (L&T) is currently trading at Rs 1512.85, up by 6.35 points or 0.42% from its previous closing of Rs 1506.50 on the BSE.

The scrip opened at Rs 1488.00 and has touched a high and low of Rs 1519.90 and Rs 1477.05 respectively. So far 46738 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1719.50 on 29-Oct-2012 and a 52 week low of Rs 1106.40 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs 1531.30 and Rs 1455.25 respectively. The current market cap of the company is Rs 92655.59 crore.

The Institutions holding in the company stood at 53.49 % while Non-Institutions held 43.11% of the stake.

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.

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Puchho Befikar
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