Larsen -; Toubro Board nods Rs10,000 crore fundraise; stock remains steady

24 Mar 2022 , 02:24 PM

In its regulatory filing today, Larsen & Toubro Limited informed the exchanges and investors that the Board of Directors at its meeting held today approved long-term borrowings up to Rs10,000 crore, including refinancing, through external commercial borrowings, term loans, non-convertible debentures, or any other instrument as may be appropriate.

The company has informed the exchange of the board’s consideration via its letter dated March 21, 2022. However, the final approval from Board has been given in today’s meeting.

Post this development, Larsen & Toubro’s counter was trading at Rs1,773.50, up by 0.35% against its previous closing price of Rs1,767.25. It touched an intraday high and low of Rs1779.70, and Rs1,751 respectively, so far.