Mindtree acquisition

Larsen and Toubro, which recently acquired a majority share in Mindtree, said the IT firm will be run as a separate entity and operate at an arm's length from the construction major's own tech units. There is no direct conflict between Mindtree and L&T Infotech (LTI) as "they operate in vastly different areas with a minimum client overlap", L&T CEO and Managing Director SN Subrahmanyan said to Pixr8 News, asserting that no position is sought to be disturbed at Mindtree and no changes are being contemplated right now. L&T will focus on "continuity" as a key theme in the management transition, and the announcement for a new chief executive for the IT services firm will be done in due course, he told Pixr8 News. Last week, L&T was categorised as a promoter of Mindtree...

NEW DELHI: Infrastructure major Larsen and Toubro (L&T) acquired over 24.9 lakh shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.45 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 24,99,619 equity shares (with a face value of ₹10 each) of Mindtree Ltd on May 24, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.45 per cent. The latest stock purchase was made at ₹980 a piece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about ₹3,210 crore, and has since topped that up with share purchases from open market. On Thursday, L&T had ...

Tag: Mindtree acquisition

Mindtree will continue as a separate entity: L&T

L&T acquire 24.9 lakh shares of Mindtree, shareholding now up to 28.45%