L&T to raise $200 million through FCCBs

Larsen & Toubro Ltd (L&T) has announced that the Company is currently contemplating an offering of foreign currency convertible bonds ("Bonds") in accordance with the provisions of the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (through Depositary Receipt Mechanism) Scheme 1993, as amended, for an aggregate amount of up to US$ 200,000,000. The Bonds shall be convertible into newly issued equity shares of the Company of face value of Rs. 2 each.

The stock was trading at Rs.1649, down by Rs.28.40 or 1.69%. The stock hit an intraday high of Rs.1714 and low of Rs.1630.20.

The total traded quantity was 210833 compared to 2 week average of 326760.

Source : Equity Bulls

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