L&T nears 26% threshold in Mindtree after open-market transaction

L&T on Wednesday bought over 3.75 million shares, which is 2.29 per cent of Mindtree's total share base, at an average price of Rs 979.96 per share

L&T is fast inching towards touching the 26 per cent shareholding threshold in Mindtree, as the engineering firm on Wednesday bought an additional 2.29 per cent stake worth Rs 368.4 crore through open market transaction. With this round of buying, total holding of L&T reached 23.92 per cent in the Bengaluru-headquartered IT services company.

This is the third consecutive day of buying by L&T from the open market as the company added 0.89 per cent stake of Mindtree on Tuesday for around Rs 144 crore. On Monday, the firm bought 0.75 per cent stake in the mid-tier IT firm for around