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L&T makes 5,029-crore open offer for 51 mn Mindtree shares at 980 each

Jun 08, 2019 - ICT Monitor Worldwide

Infrastructure major Larsen and Toubro on Friday announced an open offer for 51.3 million shares or 31% stake of mid-tier IT company Mindtree at 980 per share, according to a regulatory filing. L&T will have to shell out 5,029.8 crore for the planned open offer for the Bengaluru-based company.

Mindtrees equity base comprises 164.21 million shares with Mindtree holding 28.9% of them as of 6 June, according to exchange filings.

"Larsen and Toubro makes a cash offer of 980 per fully pai...