Mindtree’s large shareholders on Subroto Bagchi’s side in hostile takeover battle with L&T, reveals CEO

Even as Mindtree mulls various strategies to fend off L&T’s hostile takeover bid including a share buyback, CEO Rostow Ravanan says that there has been an extensive outpouring of support for Mindtree minds from large institutional shareholders including Nalanda, Amansa and Vanguard. “Nalanda Capital, our biggest shareholder recognises that Mindtree has created exceptional value for all our stakeholders. That is the construct and vision of what we are following, as well as a culture that Mindtree has. We hope that culture is not disturbed, so that the output to clients is not disturbed,” Rostow Ravanan said in an interview to ET Now.

According to Ravanan, the investors have recognised that Mindtree is a high performing organisation, great management team and they have also recognised that financial performance is a function both of strategy and culture and therefore any disturbance to either strategy or culture will then lead to differences in performance, he told CNBC TV18.