L&T; planning private equity fund after IPOJuly 25th, 2011 - 7:10 pm ICT by IANS
Chennai, July 25 (IANS) Engineering and construction group Larsen and Toubro (L&T;) is working on launching a private equity fund to finance infrastructure projects.
“We are working at it. But it may take some time. Our current target is to complete the IPO (initial public offering) of L&T; Finance Holdings Ltd,” president and director (whole time) of L&T; Finance Holdings N. Sivaram told IANS here Monday on the sidelines of an event.
L&T; is planning to launch the private equity fund as a part of a strategy to become a financial supermarket.
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.
Sivaraman said the price band is fixed between Rs.51 and Rs.59 per equity share of Rs.10 each.
He said currently L&T; holds 95.94 percent stake and Capital International Funds 4.06 percent.
“Post issue, the promoter’s (L&T;) dilution will be around 17 percent,” he said.
The issue opens on July 27 and closes on July 29.
- Larsen and Toubro planning Rs.2,000-crore PE fund - Oct 31, 2010
- L&T Infra to increase exposure to non power core sectors - Oct 20, 2010
- L&T Infra gets infrastructure finance company status - Jul 08, 2010
- L&T; arm signs Rs.2,600 crore agreement with NHAI - Jun 22, 2011
- GVK to buy Siemens' Bangalore airport stake - Aug 22, 2011
- L&T; Oman bags orders worth Rs.875 crore - Nov 03, 2011
- Larsen and Toubro plans to start a bank - Aug 20, 2009
- L&T; arm signs Rs.2,600 crore highway construction agreement (Lead) - Jun 22, 2011
- Larsen and Toubro bags Rs.1,610 orders in Q1 - Jun 24, 2011
- Larsen and Toubro bags orders worth Rs.2,056 crore - Jan 02, 2012
- Sensex gains 53.09 points in special trade - Apr 28, 2012
- Sensex up 225.14 points, oil and gas stocks soar - Aug 06, 2012
- K. Venkataramanan new managing director of L&T; - Mar 09, 2012
- L&T;'s quarterly net profit rises 17.39 percent - May 19, 2011
- Hyderabad Metro to finalise vendors in two months - May 01, 2012
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