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L&T picks up about 98,000 shares of Mindtree, raises stake to 28.87%

Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from open market.

May 29, 2019 / 07:43 PM IST
 
 
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Infrastructure major Larsen and Toubro (L&T) on May 29 acquired about 98,000 shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.87 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 97,815 equity shares (with a face value of Rs 10 each) of Mindtree Ltd on May 29, 2019," a BSE filing by Mindtree said.

After the latest transaction, L&T's shareholding in Mindtree stands at 28.87 per cent. The latest stock purchase was made at Rs 980 apiece.

Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from open market.

On Monday, L&T had acquired 2.3 lakh shares of Mindtree, followed by another 3.56 lakh shares on Tuesday from the open market. In the week of May 20-24, L&T had purchased shares worth over Rs 316 crore.