Business Standard

Monday, December 23, 2024 | 07:24 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

L&T has 'acquired control' of the company with 60.06% stake: Mindtree

The development is significant as Mindtree founders had initially resisted the hostile takeover bid and also tried to rally support of large investors in the initial weeks of the drama

Mindtree campus
Premium

Mindtree campus

Press Trust of India New Delhi
Nalanda India Fund and Nalanda India Equity Fund have sold majority of their holding in Mindtree Ltd in the recent open offer launched by Larsen and Toubro (L&T), which is now a promoter of the Bengaluru-based IT firm with 60.06 per cent stake.

IT firm Mindtree, in a regulatory filing on Wednesday, said L&T has "acquired control" of the company with a 60.06 per cent stake and has been categorised as promoter.

The development is significant as the Mindtree founders had initially resisted the hostile takeover bid and had also tried to rally support of large investors in the initial weeks of
Topics : MindTree

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in