L&T hikes shareholding in Mindtree to 28.45%, buys 2.49-million shares

Infrastructure major Larsen and Toubro (L&T) on Friday acquired over 2.49 million 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 has acquired 24,99,619 equity shares (with a face value of Rs 10 each) of Mindtree 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 Rs 980 apiece. 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 Rs 3,210 crore, and has since topped that up with share purchases from open market. On Thursday, L&T had acquired 450,000 shares of Mindtree from the open market.