68th Day Of Lockdown

Maharashtra65168280812197 Tamil Nadu2024611313157 Delhi173877846398 Gujarat1635692321007 Rajasthan83654855184 Madhya Pradesh78914444343 Uttar Pradesh77014651213 West Bengal48131775302 Andhra Pradesh3461228960 Bihar3359120915 Karnataka292299749 Telangana2499141277 Jammu and Kashmir234190828 Punjab2197194942 Odisha17239779 Haryana172194019 Kerala120957510 Assam9361044 Uttarakhand493794 Jharkhand4621914 Chhatisgarh4471021 Chandigarh2891994 Tripura2711720 Himachal Pradesh223634 Goa70420 Manipur6060 Puducherry57230 Nagaland3600 Meghalaya27121 Arunachal Pradesh310 Mizoram110 Sikkim100
Business Companies 14 May 2019 L&T acquires 1,1 ...

L&T acquires 1,168 shares of Mindtree

PTI
Published May 14, 2019, 6:46 pm IST
Updated May 14, 2019, 6:46 pm IST
Shares of Mindtree ended at Rs 974.25 apiece on the BSE on Tuesday, 0.13 per cent lower than the previous closing.
In all, L&T is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore.
 In all, L&T is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore.

New Delhi: Infrastructure major Larsen and Toubro (L&T) has acquired 1,168 shares of Mindtree from the open market, taking its overall holding in the mid-sized IT company to 25.94 per cent, according to a regulatory filing.

"Larsen and Toubro Ltd has acquired 1,168 equity shares (with face value of Rs 10 each) of Mindtree Ltd on May 14, 2019," the company said in a filing. The mode of the acquisition was open market purchases and L&T's holding after the said purchase stood at 25.94 per cent. The latest stock purchase was made at Rs 972 apiece.

 

Earlier this month, Larsen and Toubro had purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from the open market. On May 9, L&T had announced the acquisition of an additional 2 per cent stake in Mindtree.

In all, L&T is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore -- marking the country's first-ever hostile takeover bid in the IT industry. 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 seems to have been postponed as the engineering major is yet to get a nod on the same from the Securities and Exchange Board of India (SEBI). Reports suggest that the offer could be delayed by a fortnight. Emails sent to L&T on the issue did not elicit a response.

Shares of Mindtree ended at Rs 974.25 apiece on the BSE on Tuesday, 0.13 per cent lower than the previous closing.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT