L&T hikes shareholding in Mindtree to 28.45%, picks up 24.9 lakh shares

NEW DELHI: Infrastructure major Larsen and Toubro (L&T) on Thursday 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 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 ₹3,210 crore, and has since topped that up with share purchases from open market.