L&T board approves nearly Rs 12,000 crore debt-based fundraising plan

L&T also announced appointment of Subramanian Sarma, whole-time director and president, energy, as the deputy managing director and president of the company with effect from April 2, until Feb 2028

Engineering conglomerate Larsen & Toubro (L&T) on Friday said its board has approved fundraising plans of up to ₹12,000 crore, through different debt-based instruments.

 

L&T’s board approved long-term borrowings of up to ₹12,000 crore, including through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate.

 

In another development, L&T announced the appointment of Subramanian Sarma, whole-time director and president, energy as the deputy managing director and president of the company with effect from April 2, until February 2028.

 

Earlier in the day, L&T also announced a project win for its Buildings & Factories (B&F) vertical. The company said the order, worth between ₹2500 crore and ₹5,000 crore, was from the Brigade Group to construct residential and commercial towers in Hyderabad and Chennai.

 

 

“This accounts for the largest residential project that the business has so far received from a private customer,” the press release said.