L&T plans to raise $600 million for expansion

24 Jul 2013

Infrastructure major Larsen and Toubro (L&T) is planning to mop up about $600 million through issue of securities. In this regard, the company is seeking its shareholders’ nod. The raised fund will be used for company’s expansion. Meanwhile, the company’s board is authorized to offer, issue and allot in one or more tranches to investors, whether Indian or foreign, including foreign institutions. 

Recently, the company announced disappointing first quarter results, with a total debt of about Rs 10,939 crore as on June, 2013, while its gross debt to equity ratio was at 0.37. Between April and June, debt levels of L&T have risen by nearly 24% or by about Rs 2,100 crore.

Related Larsen & Toubro Ltd. Links:

Larsen & Toubro Share Price

774.85 0.10 (0.01%) Apr 03, 18:01
1 Year Price Chart
Company Name CMP
Larsen & Toubro 774.85
NCC 16.95
KEC International 160.50
Rail Vikas Nigam 15.35
Sterling and Wilson 84.00
View more..
Sensex vs Larsen & Toubro
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719