L&T divests entire stake in Kalindee

L&T divests entire stake in Kalindee

Mumbai: India’s leading engineering and construction firm Larsen and Toubro Ltd (L&T) has divested its entire stake in listed firm Kalindee Rail Nirman (Engineers) Ltd, that executes railway track, signaling and telecommunication projects on turnkey basis.

On Wednesday, after holding the stake for last two years, L&T sold its remaining 8.60% stake in Kalindee Rail through open market transactions.

In a separate development, Kalindee Rail has approved the allotment of ten lakh convertible warrants to promoters and promoters group.

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