Larsen & Toubro may issue $700 million in convertibles

By Devika Patel

Knoxville, Tenn., Sept. 21 - Larsen & Toubro Ltd. informed the Bombay Stock Exchange that it could raise up to $700 million in convertibles.

The company made the proposal at an annual general meeting on Aug. 24.

Securities may include equity, Global Depositary Receipts, American Depositary Receipts, equity shares quasi-equity instruments, preference shares, warrants, exchangeable bonds and convertible bonds and debentures.

Larsen & Toubro is a Mumbai, India-based technology, engineering, construction and manufacturing company.

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