Long-term borrowing up to Rs 7,500 crore has been approved by Larsen & Toubro Ltd.’s board.
According to a Tuesday exchange filing, the long-term borrowing may be made through term loans, commercial borrowing, non-convertible debentures, or any other suitable instrument.
In addition, the board designated MSKA and Associates as statutory auditors for a period of five years, starting in 2025, once Deloitte Haskins and Sells LLP’s term comes to an end.
The board meeting was delayed from its original date of March 27 to March 26.
On March 14, the business reported that its hydrocarbon vertical has won a pipeline project for the engineering, procurement, and construction of two new 56-inch pipelines from a Middle Eastern client.
While the NSE Nifty 50 fell 0.42%, shares of Larsen & Toubro closed 1.45% higher.
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