Why V.G. Siddhartha went with L&T, ignoring Mindtree promoters3 min read 28 Mar 2019, 12:20 AM IST
Just two weeks prior to L&T, a PE firm was very close to finalizing the deal with Siddhartha, one that was acceptable to Mindtree
V.G. Siddhartha's Mindtree stake sale to L&T fetched him only ₹16.7 crore more than the second highest offer by a PE firm
New Delhi: When V.G. Siddhartha agreed to sell the 20.32% stake owned by him and his two affiliates in Mindtree Ltd to Larsen and Toubro Ltd (L&T) at ₹980 a share, the founder of Cafe Coffee Day earned only ₹16.7 crore more than the second-highest price of ₹975 a share offered by a global private equity (PE) firm.
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