Larsen and Toubro raises $600 mn
By IANSThursday, October 8, 2009
MUMBAI - 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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