L&T Finance buys 50.56% in Panyam Cement, India

L&T Finance buys 50.56% in Panyam Cement, India
Published: 13 July 2010

L&T Finance, a subsidiary of Larsen and Toubro, acquired 8.10 million equity shares of the company from seven promoters of Panyam Cements on July 7, according to statement filed to the stock exchange.

Panyam Cements currently has a 1Mta cement plant at Nandyal in the Kurnool district of Andhra Pradesh.