Larsen & Toubro (L&T) is back in the news. But it's not in the fray to buy any business, it seems it’s looking to get a buyer.  
The engineering major may be in the mood to sell off its electrical business, or find a strategic investor, so it can focus on other core areas. 
L&T, India's leading infrastructure company has put its electrical and electronics business, popularly referred to as EBG, on the block hoping that this time at least the sale may go through. 
NDTV learnt from sources that L&T is looking for a strategic partner for its EBG business and might even offload a controlling stake, if it gets a good valuation. 
Therefore, L&T is aiming at a $1billion valuation for the unit and its in-house team formergers and acquisitions has even started the hunt for identifying potential partners.
When contacted, the L&T spokesperson said that the talk of EBG sale was mere speculation but sources say few multinationals have already been send feelers.  
Experts say the sale, if it happens may help L&T to raise some funds.
Navjeet Singh Sobti, vice-chairman of Almondz Capital, said, “The company needs some immediate liquidity to part finance the equity portion in some of the ambitious infra projects that it has lined up. EBG per se, has never been a very significant contributor to the company's topline. As such, this can be seen as a fairly viable move.”
The revenues from the electricals business contribute about 10 per cent to L&T's topline. With the induction of a strategic partner, L&T would be able to focus more on its infra projects, and still retain presence in the electricals business. 
But the million-dollar question is where is the buyer? Industry sources say that in the past also, there have been buzz about L&T trying to sell this business, but to no avail