L&T makes Rs 5,030-crore open offer for additional 31% stake in Mindtree
Posted on 8th June 2019 |
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Engineering major Larsen & Toubro (L&T) on Friday announced an open offer to purchase 51.3 million shares or an additional 31 per cent stake in Mindtree at Rs 980 apiece. At the current offer price, L&T has to shell out around Rs 5,029.8 crore to buy the stake. In an exchange filing, the company said the open offer will start on June 17 and will end on June 28. |
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L&T announces open offer for 51.3 mn shares of Mindtree at Rs 980 a share
Posted on 7th June 2019 |
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Infrastructure major Larsen and Toubro on Friday announced an open offer for 51.3 million shares or 31 per cent stake of mid-tier IT company Mindtree at Rs 980 per share, according to a regulatory filing. L&T will have to shell out Rs 5,029.8 crore for the planned open offer for the Bengaluru-based company. |
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L&T buys 25,000 more shares of Mindtree; raises stake to 28.9%
Posted on 6th June 2019 |
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Mumbai: Infrastructure major Larsen and Toubro on Thursday acquired 25,000 equity shares of Mindtree Ltd, taking its total holding to 28.9%, as per a regulatory filing. The shares were purchased at ₹971.03 apiece from the open market, thus spending ₹2.43 crore for the transaction. |
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Sebi nod for L&T’s Mindtree open offer
Posted on 1st June 2019 |
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Engineering giant Larsen and Toubro (L&T) is believed to have received the approval from the Securities and Exchange Board of India (SEBI) to go ahead with the open offer to acquire shares in IT firm Mindtree. The open offer is likely to start after June 10. L&T currently holds a 28.87% stake in the IT firm which it acquired partly from Cafe Coffee Day founder VG Siddhartha as well as from the open market. |
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L&T IDPL to add two road assets to its InvIT portfolio
Posted on 31st May 2019 |
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L&T Infrastructure Project Development Company (IDPL), a subsidiary of Larsen & Toubro, plans to soon add two of its road assets to the portfolio of its infrastructure investment fund (InvIT), Indinfravit Trust, a senior official with knowledge of the matter said. “We plan to keep generating deal flow for the InvIT, as we see no shortage of money coming from international players. The plan is to make two operational highway projects a part of the Indinfravit soon. |
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L&T faces delay in launch of open offer for Mindtree shareholders
Posted on 6th May 2019 |
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Engineering major Larsen & Toubro (L&T) is behind schedule in the launch of its open offer for the shareholders of information technology company Mindtree. It has already exceeded the timeline fixed under Securities and Exchange Board of India (Sebi) regulations in this regard. That rule says a company should launch an open offer within 55 days from the date of a public announcement. |
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L&T buys shares of Mindtree worth Rs44 crore through open market
Posted on 23rd May 2019 |
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MUMBAI: Construction major L&T on Thursday bought shares worth about ₹44.16 crore of Mindtree through open market transactions. According to the bulk deal data available with the NSE, the firm bought over 0.45 million shares, at an average price of ₹979.91 a share. |
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L&T market cap to touch Rs 3 lakh crore in 5 years, says chairman AM Naik
Posted on 22nd May 2019 |
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Larsen & Toubro’s standalone market capitalisation will touch Rs 3 lakh crore and its revenue will reach Rs 2 lakh crore in five years as strategic initiatives like L&T NxT have helped in making giant strides, group chairman A M Naik said. The recently launched L&T-NxT initiative is a technology platform that focuses on artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions as well as cybersecurity. |
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L&T net up 8% at Rs 3,418 cr in Q4; dividend of Rs 18 a share announced
Posted on 11th May 2019 |
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Engineering and construction major Larsen & Toubro (L&T) reported on Friday its net profit rose 8 per cent to Rs 3,418 crore in the March quarter (Q4) of FY2018-19 year-on-year, according to a filing with the Bombay Stock Exchange (BSE). The Board of Directors has recommended for the approval of shareholders, a dividend of Rs 18 per equity share. |
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L&T nears 26% threshold in Mindtree after open-market transaction
Posted on 9th May 2019 |
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L&T is fast inching towards touching the 26 per cent shareholding threshold in Mindtree, as the engineering firm on Wednesday bought an additional 2.29 per cent stake worth Rs 368.4 crore through open market transaction. With this round of buying, total holding of L&T reached 23.92 per cent in the Bengaluru-headquartered IT services company. |
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