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L&T plans to raise up to Rs 1400 cr through NCDs on private placement basis

Shares of L&T were trading 1.32 per cent higher at Rs 1,331.10 apiece on BSE

1 min read Last Updated : Aug 14 2019 | 12:43 PM IST

Infrastructure major Larsen and Toubro (L&T) on Wednesday said it plans to raise up to Rs 1,400 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The company, however, did not elaborate on the reasons for raising funds.

"The company proposes to issue rated, listed, unsecured, redeemable non-convertible debentures aggregating up to Rs 1,400 crore on private placement basis," L&T said in a regulatory filing.

Shares of L&T were trading 1.32 per cent higher at Rs 1,331.10 apiece on BSE.