Mindtree acquisition saga: Nalanda Capital sells entire 10.6% stake to L&T

Current holding of L&T in Mindtree exceeds 45%

The founders of Mindtree on Monday lost their last line of defence against L&T’s takeover bid as Nalanda Capital sold its entire 10.6 per cent stake in the Bengaluru-based firm to the engineering major. Sources said after putting up a stiff resistance, Nalanda Capital, which was so far seen as a supporter of founder’s stance, tendered its shares in the open offer on Monday.

Apart from Nalanda Capital, multiple sources also said Singapore-based Arohi Asset Management, which manages Ontario Teachers’ Pension Plan Board’s stake of 1.22 per cent, has also offloaded its stake.
 

According to data available on exchanges, L&T’s holding