On May 4, 2018, Larsen & Toubro Ltd (L&T) informed the stock exchanges that its subsidiary company, L&T Infrastructure Development Projects Ltd (L&T-IDPL) has transferred its stake in its five subsidiary companies to Indinfravit Trust through the infrastructure investment trust (InvIT) route. Accordingly, these companies cease to be subsidiary companies of L&T effective from May 4, 2018. It has also stated that L&T will receive “Rs 909.08 crore as consideration for the portfolio of five entities. In addition, loans if any provided by L&T-IDPL and its subsidiaries to the five entities will also be repaid.”
