As part of the restructuring exercise, engineering major L&T is planning to sell its eletricals business, according to sources.
The company took a final decision in the Thursday's Board meeting. The electricals business for L&T has a topline of about Rs 3,500 crore to Rs 3,700 crore. This vertical contributes around 7-8% of L&T's total turnover.
Sources added that the strategic electricals and switches companies like a leading US-based electricals firm Eaton and Europe-based Schneider could be interested parties in the bid for the L&T's business.
L&T spokesperson refused to comment on the development.
At 1241 hours, L&T shares were trading 1.12% up at Rs 1,737 on the Bombay Stock Exchange.