L&T
L&T

L&T buys over 3.56 lakh shares of Mindtree, hikes shareholding to 28.81%

  • L&T had proposed to buy additional stake in Mindtree through an open offer
  • Shares of Mindtree ended at 980.10 apiece on the BSE on Tuesday, 0.05% higher than the previous closing

Infrastructure major Larsen and Toubro (L&T) on Tuesday acquired over 3.56 lakh shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.81%, according to a regulatory filing.

After the latest transaction, L&T’s shareholding in Mindtree stands at 28.81%. The latest stock purchase was made at 979.98 apiece. Earlier this month, L&T purchased around 20% stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about 3,210 crore, and has since topped that up with share purchases from open market.

L&T had proposed to buy additional stake in Mindtree through an open offer that was slated to begin on May 14 and close on May 27. However, the open offer has been postponed as the engineering major is yet to get nod from the Securities and Exchange Board of India.

Shares of Mindtree ended at 980.10 apiece on the BSE on Tuesday, 0.05% higher than the previous closing.

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