Corporate Announcement
Security Code : 500510    Company : LT    
 
FIPB approval for FDI in L&T IDPL 
  Exchange Disseminated Time     
With reference to the earlier announcement dated December 20, 2013, regarding L&T IDPL seeks FIPB approval for FDI, Larsen & Toubro Ltd has now informed BSE that Foreign Investment Promotion Board (FIPB) vide its press release dated February 20, 2014 has communicated that it has approved the proposal for issuance of equity shares, Compulsorily Convertible Preference Shares (CCPS) and /or Compulsorily Convertible Debentures (CCD) of Rs. 1000 crore by M/s. L&T Infrastructure Development Projects Limited (L&T IDPL) to a wholly owned subsidiary of M/s. CPP Investment Board (USRE III), Inc. which is under incorporation.

The investment is subject to finalisation and execution of definitive agreements with the investor and receipt of necessary regulatory and other approvals.
 

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