Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. India
  4. Bombay Stock Exchange
  5. Larsen & Toubro Limited
  6. News
  7. Summary
    500510   INE018A01030

LARSEN & TOUBRO LIMITED

(500510)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Larsen & Toubro Initiates the Process to Sell Its Entire 51% in L&T Infrastructure Development Projects

08/18/2021 | 01:07am EDT

Larsen & Toubro Limited (BSE:500510) has initiated the process to sell its entire 51% in L&T Infrastructure Development Projects Limited  (L&T IDPL) as the other key shareholder, Canada Pension Plan Investment Board (CPPIB), is unlikely to consolidate its investment in the company, a top executive told ET. L&T has adopted an asset-light strategy and is in the process of exiting non-core assets, including IDPL. The Canadian pension fund, which first invested in L&T IDPL in 2014 and has since increased stake to around 49%, was expected to buy out the remaining stake from L&T but that is unlikely now. “The divestment got delayed,” Dip Kishore Sen, Whole-Time Director and Senior Executive Vice President at L&T, told ET. “We were expecting CPPIB to buy our balance stake, which doesn't seem plausible currently. However, we have restarted the divestment process now. Our financial advisor has sent teasers to about 25 companies,” said Sen. Sen, who is also the Managing Director and Chief Executive Director of L&T IDPL, said the transaction is expected to be closed in the next six months. He declined to comment on the deal valuation. Industry speculation suggests that L&T could be seeking an enterprise value of INR 40 billion- INR 50 billion for the business. “We are sure that IDPL will attract a lot of investors as it is a qualified company with a lot of credentials,” Sen said. “Also, at a time when the government has said that future road construction would be at least 50% through hybrid annuity/public-private partnership model, many companies are keenly looking at IDPL to immediately get qualification and credentials to bid for infrastructure development projects.” He said CPPIB will be “willing to sell its entire stake” in L&T IDPL when L&T exits. Responding to an ET query, CPPIB said, "We will not comment on market rumours and speculation".


© S&P Capital IQ 2021
All news about LARSEN & TOUBRO LIMITED
10/20LARSEN & TOUBRO : Corporate Governance Report - September 2021
PU
10/20MINDTREE : Western Asset Selects Mindtree as a Strategic Partner to Drive Enterprise Innov..
AQ
10/19Indian Benchmarks Close in Red on Tuesday; ITC Tanks 6%
MT
10/18LARSEN & TOUBRO INFOTECH : LTI Crosses USD 2 billion Annual Revenue Run Rate
AQ
10/18LARSEN & TOUBRO : L&T launches L&T EduTech
AQ
10/17LARSEN & TOUBRO : Appoints CEO For Newly Formed Education Business
MT
10/17LARSEN & TOUBRO : Launches E-Learning Platform
MT
10/15Larsen & Toubro Launches L&T EduTech
CI
10/13LARSEN & TOUBRO : L&T Construction Awarded (Significant*) Contracts for its Various Busine..
AQ
10/12LARSEN & TOUBRO : Bags "Significant" Orders of Up To $332 Million
MT
More news
Analyst Recommendations on LARSEN & TOUBRO LIMITED
More recommendations
Financials
Sales 2022 1 567 B 20 896 M 20 896 M
Net income 2022 96 514 M 1 287 M 1 287 M
Net Debt 2022 1 122 B 14 970 M 14 970 M
P/E ratio 2022 26,1x
Yield 2022 1,27%
Capitalization 2 516 B 33 562 M 33 557 M
EV / Sales 2022 2,32x
EV / Sales 2023 2,04x
Nbr of Employees 40 253
Free-Float 86,0%
Chart LARSEN & TOUBRO LIMITED
Duration : Period :
Larsen & Toubro Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LARSEN & TOUBRO LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 36
Last Close Price 1 791,25 INR
Average target price 1 940,40 INR
Spread / Average Target 8,33%
EPS Revisions
Managers and Directors
Sekharipuram Narayan Subrahmanyan Chief Executive Officer, MD & Executive Director
Ramamurthi Shankar Raman Chief Financial Officer & Executive Director
Anil Kumar Manibhai Naik Group Non-Executive Chairman
A. Sivaram Nair Secretary & Compliance Officer
Mukund Manohar Chitale Independent Non-Executive Director
Sector and Competitors