L&T's Strategic Financial Move

Larsen & Toubro (L&T), a leading $27-billion conglomerate, has announced plans to raise Rs 12,000 crore through various debt instruments. This strategic financial maneuver aims to meet the company's capital expenditure needs and refinance matured debt. The instruments under consideration include non-convertible debentures, external commercial borrowings, and term loans, with detailed terms to be disclosed upon finalization.

Leadership Elevation and Organizational Restructuring

In a significant leadership development, Subramanian Sarma, who currently heads the energy unit, has been promoted to the position of deputy managing director (MD) of the company, effective April 2. Sarma, who joined L&T's board directly in 2015, will report directly to S N Subrahmanyan, the chairman and MD of L&T. This move is part of L&T's initiative to nurture internal talent for leadership positions, reflecting the company's commitment to internal growth and leadership development.

Financial Strategies and Employee Benefits

L&T has a tradition of opting for debt-based fundraising to support its financial strategies. During fiscal 2024, the company issued non-convertible debentures worth Rs 7,000 crore and commercial papers totaling Rs 46,975 crore. Additionally, L&T has announced the allotment of 17,150 equity shares to grantees who exercised their options under the company's employee stock option schemes, further emphasizing its commitment to employee benefits and ownership.