The board of Larsen and Toubro Ltd. has approved long-term borrowing of up to Rs 7,500 crore.
The long-term borrowing can be through commercial borrowing, term loans, non-convertible debentures or any other appropriate instrument, an exchange filing said on Tuesday.
The board also appointed MSKA and Associates as statutory auditors for five years, as Deloitte Haskins and Sells LLP completes its tenure in the calendar year 2025.
The board meeting was earlier scheduled for March 27, but was later rescheduled for March 26.
The hydrocarbon vertical of the company secured a pipeline project for engineering, procurement and construction of two new 56-inch pipelines from a client in the Middle East, the company announced on March 14.
Shares of Larsen and Toubro closed 1.45% higher, as compared with a 0.42% decline in the NSE Nifty 50.
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