L&T plans to raise $500 million through QIP: Report

In a bid to fund their capital requirements, Larsen and Toubro (L&T) is reportedly planning to raise around $500 million by selling shares to institutional investors. The issue, expected to be launched in a few weeks after getting the board and shareholder approvals, will be a real test of the institutional appetite for companies catering to India’s infrastructure sector. The company’s board is expected to approve the proposed fund-raising plan in this week.

Larsen & Toubro is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.