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Larsen & Toubro Ltd.
BSE: 500510 | NSE: LT
Large Cap | Engineering - Construction
3933.45
1.00 (0.03%) L&T to raise Rs 2000 crore through IPO of its IT arm
Date: 03-08-2015Construction and engineering conglomerate Larsen & Toubro (L&T) is planning to raise about Rs 1,500-2,000 crore through an initial public offering (IPO) of its IT arm L&T Infotech.
L&T intends to file a draft red herring prospectus (DRHP), or the initial papers, for an IPO of its IT unit by late August or early September. The conglomerate intends to list L&T Infotech by December.
Meanwhile, L&T has appointed Citibank, Barclays and Kotak Bank as advisors for the IPO.