Stocks

L&T keen on listing arms first

Our Bureau Mumbai | Updated on November 16, 2017 Published on January 25, 2011

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All requisite approvals are in place for the listing of L&T Finance and “we are waiting for the right opportunity,” said Mr J.P. Nayak, President and Board Member, Larsen & Toubro, at a press meet here and asked when this would come, he replied, “Your guess is good as mine.”

Mr Nayak said L&T will first look at listing its subsidiaries before attempting to unlock the value of its newly carved out nine verticals.

The subsidiaries include L&T Infotech, L&T Financial Services, L&T Infrastructure Development Projects and L&T Power Development.

Further, a lot would depend on market conditions, maturity of the businesses, need for funds and the value accretion that can take place.

The time was not yet ripe to unlock the value of any vertical given that none is even registered.

“We have to first corporatise them. Our plan is to first list our subsidiaries,” Mr Nayak said.

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Published on January 25, 2011
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