Larsen & Toubro Ltd.

Larsen and Toubro (L&T), an engineering and construction group is working on launching a private equity (PE) fund. As a part of a strategy to become a financial supermarket, the company is planning to launch the PE fund to finance infrastructure projects. The company is working on it and may take some time. The company’s current target is to complete the initial public offering (IPO) of L&T Finance Holdings.

Meanwhile for the first time in L&T's history, one of its business is hitting the market with an IPO. L&T Finance Holdings - the holding company for L&T Finance, L&T Infrastructure Finance, L&T Investment and Management and India Infrastructure Developers - is raising up to Rs 1,245 crore to repay inter-corporate deposits raised from parent L&T and augmenting the capital of subsidiaries. L&T holds 95.94 percent stake. Post issue, L&T dilution will be around 17 percent.

Recently, Larsen & Tourbo’s Power Transmission & Distribution IC had bagged an international EPC order worth Rs 1,210 crore from Qatar General Electricity and Water Corporation for supply and construction of thirteen extra high voltage (EHV) substation in Qatar.