Reuters reported that Indian engineering firm Larsen & Toubro is close to launching a USD 600 million share sale to institutional investors.
Sources with direct knowledge of the deal said that joining a string of firms raising equity.
One Source said that "The deal can be launched tomorrow, the next day or early next week. We are just waiting for the window of opportunity.”
The source added that Citigroup, Morgan Stanley and Bank of America Merrill Lynch are the arrangers to the offer.
(Sourced from www.steelguru.com)
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