Larsen and Toubro receives promoter's tag in Mindtree with 60% stake

Mindtree is scheduled to hold its next annual general meeting (AGM) on July 16

Mindtree on Wednesday informed stock exchanges that engineering major Larsen and Toubro (L&T) was categorised as ‘promoter’ of the Bengaluru-based IT services firm after its acquisition of 60 per cent stake in the company.

“L&T has acquired equity shares to an extent 60.06 per cent of the total shareholding of the company and has acquired control and is categorised as ‘promoter’ pursuant to Sebi (issue of Capital and Disclosure Requirements) Regulations, 2018,” the company said in an exchange filing.

As on July 2, L&T was holding a total of 98.7 million shares of the company, the fling showed. While L&T acquired 20.32