L&T To Raise $600 Mn Through QIP
Larsen & Toubro is planning to raise upto $600 Mn to fund its various projects including a large metro rail network and setting up power plants. The funds will be raised in a year's time through QIP.
It has also planned a capex of Rs 2300 Cr this financial year of which major will be used for expansion.
L&T may win the bid to build the Rs 12,132 Cr Hyderabad Metro project for which it will initially invest about Rs 3,000-4,000 Cr.
Transaction Reference: ET
L&T is building 11 new manufacturing factories, including forging factories and is planning an investment of Rs 5,000-7,000 Cr in power generation projects in five years.
It will invest Rs 25,000 Cr by 2015 to set up 5,000 Mw power generation capacity.
It has formed JV with Mitsubishi Heavy Industries and Mitsubishi Electric for production of turbine generators and boilers at Hazira, Gujarat. It has also signed agreements with global nuclear-energy companies such as Westinghouse Electric Company, GE Hitachi and Russian company Atomstroyexport for manufacturing nuclear reactors in India.
L&T is in talks with Strategic Ventuers Fund (Mauritius) to buy 5% stake in Astra Microwave which will increase its current stake from 9.79% to around 15%.
It is also planning to set up a $250 Mn (about Rs1,130 Cr) fund for investing in infrastructure projects in India. It was planning to launch a $1bn infrastruture fund in 2007, but the plan soon ran into trouble after global credit crisis.
L&T's order book stood at more than Rs 1 trillion ($21.9 bn) as on March 31, 2010.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 16/07/10 | L&T - QIP | IPO / Offerings | Looking For | 600.00 |
| 09/10/09 | L&T -QIP (2009) | IPO / Offerings | 402.75 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 03/02/12 | M&A | ThyssenKrupp Elevator India Private Limited | Eros Elevators & Escalators Private Limited | - | Completed |
| 31/01/12 | M&A | Inox India Limited | Looking For | 20.00 | Planned |
| 27/01/12 | M&A | Hammond Power Solutions Inc. | Pan Electrotechnic Enterprises Private Limited | - | Planned |
| 24/01/12 | M&A | Fluke Corp | TTL Technologies Private Limited | - | Completed |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Larsen & Toubro Limited | Soren Kristian Toubro Henning Holck-Larsen |
L&T House, Ballard Estate |
Jaiprakash Associates Limited Gammon India Limited Standard Electricals Limited Hindustan Dorr Oliver Limited Crompton Greaves Limited ICOMM Tele Limited Tecpro Systems Limited Zawar Cement Private Limited Greaves Cotton Limited Wonder Pack Industries Private Limited |
www.larsentoubro.com |
| Dealforwards |  |
| Jan 31, 2012... | Dell Set For India Acquisition: Hexaware, NIIT Potential Targets |
|
| Jan 31, 2012... | Flipkart Raises $150Mn From Accel Partners, Tiger Global |
|
| Jan 30, 2012... | 3i Group Invests $61Mn In Supreme Infrastructure |
|
| Feb 1, 2012... | Trishe Energy To Raise PE Funding For Wind Power Projects |
|
| Jan 31, 2012... | Radiowalla.in Raises Series A Funding From Ojas Venture Partners |
|
Editorial
India A Bright Spot For Otherwise Insolvent CalPERS
I heard that Calfornia Pension is going to default and I started wondering what could be India's contribution to that.
