Incorporated in 1946, Larsen & Toubro Limited is an Indian multinational company engaged in EPC Projects, Hi-Tech Manufacturing, and Services.
Larsen & Toubro offers Construction, Hydrocarbon, Power, Minerals & Metals, Heavy Engineering, Defence, Defence Shipbuilding, Construction & Mining Machinery, L&T Valves, L&T Technology Services, L&T IDPL, L&T Metro Rail, L&T Financial Services, L&T Realty, L&T SuFin, L&T Edutech, and LTIMindtree for infrastructure, construction, defence, hydrocarbon, heavy engineering, power, shipbuilding, aerospace, mining, and metallurgy sectors.
L&T Limited offers an extensive range of products and services across various businesses and industries. They emphasize on sustainable growth and technology.
The Company has manufacturing facilities and offices in over 50 countries and a global supply chain ecosystem with more than 50,000 employees.
Lars
Larsen & Toubro Buyback 2023 Detail
| Issue Period | September 18, 2023 – September 25, 2023 |
| Security Name | Larsen & Toubro Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 31,250,000.00 |
| Issue Size (Amount) | ₹10,000.00 Crores |
| Buyback Price | ₹3200 per share |
| Face Value | ₹2 per share |
| Listing At | BSE, NSE |
Larsen & Toubro Buyback 2023 Issue Timetable
| Last Date to buy shares | September 11, 2023 |
| Record Date | September 12, 2023 |
| Offer Opens On | September 18, 2023 |
| Last Date for receipt of Tender Forms | September 25, 2023 |
| Offer Closes On * | September 25, 2023 |
| Finalisation of Buyback Acceptance | September 27, 2023 |
| Last Date for settlment of bids | September 28, 2023 |
| Last Date for Extinguishment of Shares | October 11, 2023 |
* Last Date to Tender shares on Zerodha : September 22, 2023
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 38 Fully paid-up Equity Shares held on the Record Date. | 4,687,500.00 |
| General Category for all other Eligible Shareholders | 11 Equity Shares out of every 574 Fully paid-up Equity Shares held on the Record Date. | 26,562,500.00 |
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Jun 2023 |
| Assets | ||||
| Revenue | 90,615.77 | 104,613.06 | 114,535.93 | 27,788.77 |
| Profit After Tax | 3,147.31 | 7,879.45 | 7,848.97 | 1,792.36 |
| Net Worth | 61,737.82 | 67,114.05 | 71,527.95 | |
| Reserves and Surplus | ||||
| Total Borrowing |
Amount in ₹ Crore
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 2,687.90 | 2,419.95 | 2,520.89 |
| Jun-2023 | 2,482.95 | 2,202.20 | 2,351.99 |
| May-2023 | 2,416.00 | 2,168.65 | 2,262.49 |
Stock price at NSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 2,690.00 | 2,420.00 | 2,520.59 |
| Jun-2023 | 2,483.50 | 2,202.15 | 2,352.20 |
| May-2023 | 2,416.35 | 2,168.50 | 2,262.64 |
Necessity of the Issue
The Buyback is being undertaken for the following reasons:
1. The Buyback will help the Company to distribute surplus cash to its shareholders holding Equity Shares thereby enhancing the overall return for them.
2. The Buyback is generally expected to improve return on equity through the distribution of cash and improve earnings per share by a reduction in the equity base of the Company, thereby leading to a long-term increase in shareholders’ value.
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Company Contact Information
Larsen & Toubro Limited
L&T House, N.M. Marg,
Ballard Estate,
Mumbai – 400 001
Phone: +91 22 67525656
Email: infodesk@larsentoubro.com
Website: https://www.larsentoubro.com/