L&T to foray into fabless semiconductor chip design, to invest Rs 830 crore to set up unit

Engineering major Larsen and Toubro (L&T) is foraying into fabless semiconductor chip design by setting up a subsidiary, the engineering major said on Tuesday.

The company has approved an investment of Rs 830 crore to set up a wholly-owned subsidiary that will be engaged in the business of fabless semiconductor chip design and product ownership and not manufacturing, said L&T chief financial officer, R Shankar Raman.