L&T buys 25,000 equity shares of Mindtree; raises holding to 28.90%

Infrastructure major Larsen and Toubro on Thursday acquired 25,000 equity shares of Mindtree Ltd, taking its total holding in the mid-tier IT firm to 28.90 per cent, as per a regulatory filing.

The development assumes significance as L&T has been steadily increasing its holding in the Bengaluru-based tech firm where it acquired around 20 per cent stake of V G Siddhartha and Cafe Coffee Day, recently.

L&T, which has been pursuing a hostile takeover of Mindtree, has expressed its intent to ramp-up its shareholding up to 66 per cent.

"This is to inform you that Larsen and Toubro Ltd has acquired 25,000 equity