L&T Board Approves Rs 12,000 Cr Borrowing

New Delhi, Mar 21 (PTI) Larsen & Toubro (L&T) on Friday said its board has approved a borrowing proposal of Rs 12,000 crore.

The board at its meeting also approved the appointment of Subramanian Sarma, Whole-time Director & President, Energy as the Deputy Managing Director & President of the Company with effect from April 2, 2025 to February 3, 2028.

"The Board of Directors has approved Long term borrowings of upto Rs 12,000 crore, including through external commercial borrowings, term loans, non-convertible debentures or any other instrument as may be appropriate," L&T said in an exchange filing.

The board also approved re-appointment of S. V. Desai as Whole-time Director of the company with effect from July 11, 2025 to July 4, 2030. It further approved re-appointment of T. Madhava Das as Whole-time Director of the company for a term of five years with effect from July 11, 2025.