In a bid to fund its new projects, Larsen & Toubro (L&T), India’s largest construction and engineering major is planning to offload slew of assets to raise close to Rs 8,200 crore by this fiscal-end.
The company will garner nearly Rs 4,200 crore from selling of 26% stake in the Hyderabad Metro project and 50% stake in Dhamra Port project, while the company is looking at listing one of its infrastructure company L&T IDPL in the Singapore stock exchange via the trust route to raise another Rs 4,000 crore.
Of the sale proceeds, L&T will deploy Rs 6,200 crore in the existing projects and will commit another Rs 2,000 crore for the new projects over the next five years.
