India's largest engineering firm to raise $700m in Singapore IPO

It may sell units in a business trust next year.

According to a report by Bloomberg, Larsen & Toubro Ltd. (LT), India’s largest engineering company, is considering a Singapore listing for its toll-road projects that could raise about $700 million, said two people with knowledge of the process.

Larsen may sell units in a business trust backed by assets from L&T Infrastructure Development Projects Ltd.’s road network next year, said one of the people, who asked not to be identified as the details are private. The company runs 13 expressways and has five more under construction, Morgan Stanley analyst Akshay Soni said in a report yesterday.

Read full report here.

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