L&T Board approves scheme with L&T Realty Properties
after close1 source ↓written by the desknot a recommendation
- at a nominal
- 393.54 crore shares
Larsen & Toubro's Board has approved a Scheme of Arrangement to transfer its Realty Undertaking to L&T Realty Properties on a slump sale basis, pending regulatory approvals. This transfer will involve the issuance of 393.54 crore shares at a nominal value of ₹10 plus a premium of ₹6 per share. This move aims to streamline management for the Realty segment.
Not investment advice. For informational purposes only.