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L&T Infrastructure's Rs 1,000-crore equity issuance of shares OK'd by FIPB

Feb 24 2014, 13:27 IST
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L&T Infrastructure's Rs 1,000-crore equity issuance of shares OK'd by FIPB L&T Infrastructure's Rs 1,000-crore equity issuance of shares OK'd by FIPB
SummaryThe investment is subject to finalisation and execution of definitive agreements with the investor and receipt of necessary regulatory and other approvals.

Foreign Investment Promotion Board (FIPB) has approved the proposal for issuance of equity shares, compulsorily convertible preference shares (CCPS) and/or Compulsorily Convertible Debentures (CCD) of Rs 1,000 crore by L&T Infrastructure Development Projects Limited (L&T IDPL) to a wholly-owned subsidiary of CPP Investment Board (USRE III), Inc. which is under incorporation, company informed BSE, on Monday. CPP Investment Board is Canada Pension Plan Investment Board (CPPIB).

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

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