Mumbai: Singapore-based Nalanda Capital agreed to sell its entire 10.61% stake in Mindtree Ltd to engineering giant Larsen and Toubro Ltd on Monday. Emails sent to Nalanda Capital, Mindtree and Sebi remained unanswered. L&T, on 17 June, launched its 10-day long open offer to buy 31% stake from public shareholders (including Nalanda Capital) in Mindtree at ₹980 per share. Coincidentally, after Sebi’s notice on Thursday, Nalanda Capital on Monday agreed to sell its entire stake worth Rs.1,707.46 crore to L&T in the ongoing open offer. L&T has the option to buy a total of 15% Mindtree shares from the open market.

Source: Mint June 24, 2019 10:32 UTC