L&T offers to buy 31% shares of Mindtree

Bengaluru, March 26 (IANS) Infrastructure behemoth Larson & Toubro (L&T) Ltd on Tuesday offered to buy over 5.13 crore shares or 31 per cent of IT major Mindtree's equity stake for Rs 5,030 crore at Rs 980 per share of Rs 10 face value.

"L&T has made an open offer to buy 5,13,25,371 equity shares of Rs 10 face value, representing 31 per cent of the voting share capital from shareholders of Mindtree with an intention to take control of the target company," said the city-based Mindtree in a regulatory filing on the BSE.