L&T may monetise some IDPL assets

Written by fe Bureau | Mumbai | Updated: Nov 30 2013, 10:14am hrs
Engineering major Larsen and Toubro on Friday informed Bombay Stock Exchange that the company is evaluating alternatives for monetisation of certain assets of L&T Infrastrcuture Development Project (L&T IDPL), a subsidiary of the company.

The alternatives, it said, include a potential initial public offering (IPO) and listing in Singapore of selected road assets of L&T IDPL, through a business trust in Singapore.

The company said it will provide further updates if necessary. The proposed transactions are subject to various factors, including approvals and market conditions and may or may not be completed. In the meantime, shareholders and any other investors are reminded to exercise caution when dealing in companys shares, pending any definitive announcement(s) from the company, it said in the notice.

L&T is learnt to have started negotiations with a couple of sovereign wealth funds to dilute stake in L&T IDPL, but nothing has materialised so far.

L&T IDPL is engaged in public-private partnership projects in India with business interests in areas like roads and bridges, ports, metro rail, wind energy and power transmission lines.