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Sensex 74221.06 267.75  (0.36) 22-May-2024
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Company News Details

Larsen & Toubro Ltd
Industry :  Engineering - Turnkey Services
BSE Code
ISIN Demat
Book Value()
500510
INE018A01030
468.5642095
NSE Symbol
P/E(TTM)
Mar.Cap( Cr.)
LT
52.87
472887.94
EPS(TTM)
Face Value()
Div & Yield %
65.06
2
0.99
 

Larsen & Toubro Ltd
Larsen & Toubro completes divestment of its stake in L&T Infrastructure Development Projects
Apr 11,2024

Larsen & Toubro (L&T) has announced the completion of divestment of L&T Infrastructure Development Projects (LTIDPL), a joint venture between Larsen & Toubro and Canada Pension Plan Investment Board (CPP Investments) holding 51% and 49% shares respectively.

LTIDPL has been a pioneer in PublicPrivate-Partnership (PPP) model of Infrastructure development in India. Both L&T (51%) and CPP Investments (49%) stakes have been acquired by Epic Concesiones, an investee company of Edelweiss Infrastructure Yield Plus Strategy, managed by Edelweiss Alternative Asset Advisors (EAAA).

This deal is in line with L&T's strategy to exit non-core businesses for reducing its exposure to the asset heavy developmental projects portfolio thereby enhancing its Return on Equity.

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