Canadian Pension Plan Investment Board (CPPIB) completed its second and final tranche of investment in L&T’s subsidiary L&T Infrastructure Development Projects Ltd (L&T IDPL) worth Rs.1,000 crore, said L&T in an exchange filing on Tuesday.
This follows an agreement between L&T and CPPIB in June 2014 to invest Rs.2,000 crore in L&T IDPL in two tranches of Rs.1,000 crore each. The first tranche was invested by CPPIB on December 16, 2014, with the second slated to be brought in 12 months later.
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