INSUBCONTINENT EXCLUSIVE:
The Bengaluru-based IT services company Mindtree Ltd fell in early trade on Tuesday after conglomerate Larsen Toubro Ltd (LT) said it would
buy a 20.32 per cent stake in Mindtree for Rs 10,730 crore, including open offer.LT will buy the stake from Cafe Coffee Day founder V.G
Siddhartha and companies related to him, Coffee Day Enterprises and Coffee Day Trading, LT said late on Monday.Mumbai-based LT also placed
an order with its broker for an on-market purchase of up to 15 per cent of Mindtree's shares at Rs 980 per share
It is also looking to buy an additional 31 per cent from Mindtree's public shareholders at the same price.The Mindtree acquisition
transaction will be fully funded by the Larsen Toubro and the company will remain independent listed entity post acquisition.LT stock was
trading 1.6 per cent lower on the BSE at Rs 1,357 as of 10:36 am.(With agency inputs)Get the latest election news, live updates and election
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