In a regulatory filing, L&T said these funds would be raised in the form of external commercial borrowings, term loans, non-convertible debentures, or any other instrument as may be appropriate.
The company’s board also approved the appointment of MSKA & Associates as statutory auditors for a term of five years, subject to the approval of shareholders.
L&T said the company’s current statutory auditors Deloitte Haskins and Sells LLP would be completing their tenure at the conclusion of the 80th Annual General Meeting of the company to be held in the calendar year 2025.
The company’s scrip ended at Rs 3669.85, up 1.38% on the BSE on Tuesday. Benchmark Sensex ended 0.50% lower.