Larsen and Toubro raises $600 mn
October 8th, 2009 - 4:31 pm ICT by IANSMumbai, Oct 8 (IANS) Construction and engineering major Larsen and Toubro Thursday said it has raised $600 million through qualified institutional placements (QIP) and issue of foreign currency convertible bonds (FCCBs).
The company raised $400 million through the QIP route, while $200 million came thorough FCCBs.
Financial institutions subscribed to the $400 million QIP at a 1 percent discount to the scrip’s Wednesday closing figure of Rs.1,677.40, the company said.
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Tags: convertible bonds, financial institutions, foreign currency, larsen and toubro, placements, qip, rs 1, scrip
