L&T acquires balance 2.551% stake in subsidiary L&T Infrastructure Development Projects
Capital Market Larsen & Toubro has executed share purchase agreement on 17 October 2019 to
purchase the entire stake held by Old Lane Mauritius III Ltd (Old Lane) in L&T
Infrastructure Development Projects (L&T IDPL), a subsidiary company. The company will acquire 81,90,000 shares or 2.551% stake in L&T IDPL for a cash consideration of Rs 47.99 crore.
Post the completion of this
acquisition, L&T will hold 100%
shareholding in L&T IDPL.
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