L&T has 'acquired control' of the company with 60.06% stake: Mindtree

The development is significant as Mindtree founders had initially resisted the hostile takeover bid and also tried to rally support of large investors in the initial weeks of the drama

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Mindtree campus

Press Trust of India New Delhi
Nalanda India Fund and Nalanda India Equity Fund have sold majority of their holding in Mindtree Ltd in the recent open offer launched by Larsen and Toubro (L&T), which is now a promoter of the Bengaluru-based IT firm with 60.06 per cent stake.

IT firm Mindtree, in a regulatory filing on Wednesday, said L&T has "acquired control" of the company with a 60.06 per cent stake and has been categorised as promoter.

The development is significant as the Mindtree founders had initially resisted the hostile takeover bid and had also tried to rally support of large investors in the initial weeks of
Topics : MindTree

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First Published: Jul 03 2019 | 7:49 PM IST

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