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L&T's stake in Mindtree crosses 60% as open offer is fully subscribed

According to data available with exchanges, against an offer of 51.3 million shares, L&T has so far received bids for 55.4 million shares

L&T has so far received bids for 55.4 million shares
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L&T has so far received bids for 55.4 million shares

Debasis Mohapatra Bengaluru
L&T’s ongoing open offer for buying shares in Mindtree was subscribed by 1.08 times by the end of trading hours on Thursday, taking its stake in the IT firm to over 60 per cent.
 
Though there is still one day for the open offer process to be over, the engineering firm is now in the driver's seat to change the management structure of the company.
 
According to data available with exchanges, against an offer of 51.3 million shares, L&T has so far received bids for 55.4 million shares, which is 1.08 times the quantity on offer.
 
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First Published: Jun 27 2019 | 10:53 PM IST

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