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L&T to raise $600 Million through QIP route
By siliconindia
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Friday, 16 July 2010, 20:13 IST
Mumbai: Larsen & Toubro (L&T) is all set to raise $600 million (about Rs 2,700 crore) by offering shares to institutional investors through the qualified institutional placement (QIP) route. L&T plans to raise the fund to support future programmes that include building a large metro rail network and setting up power plants. The fund will be completed within a year of the annual general meeting, said L&T.
L&T is the favourite to win the over Rs 12,000-crore Hyderabad Metro project as its bid has been declared the lowest among all bidders. The company would have to bring in about 
3000-4000 crore, if it wins the contract.
L&T is building 11 new manufacturing factories and is planning an equity investment of 5,000-7,000 crore in power generation projects in five years. It has further plans to set up power generation capacity of over 5,000 mw by 2015, investmenting more than 25,000 crore.
Meanwhile, L&T's two joint venture companies with Mitsubishi Heavy Industries, each of the two factories having an annual capacity of 4000 mw.
In addition, for the current fiscal year, the company has allocated a capital expenditure of around 2,300 crore. In order book for FY11, L7T is targeting 25 percent growth mainly from sectors like power, infrastructure and hydrocarbon.
Courtesy: Rangrut.com
3000-4000 crore, if it wins the contract.
L&T is building 11 new manufacturing factories and is planning an equity investment of 5,000-7,000 crore in power generation projects in five years. It has further plans to set up power generation capacity of over 5,000 mw by 2015, investmenting more than 25,000 crore.
Meanwhile, L&T's two joint venture companies with Mitsubishi Heavy Industries, each of the two factories having an annual capacity of 4000 mw.
In addition, for the current fiscal year, the company has allocated a capital expenditure of around 2,300 crore. In order book for FY11, L7T is targeting 25 percent growth mainly from sectors like power, infrastructure and hydrocarbon.
Courtesy: Rangrut.com