Mindtree Falls As L&T Announces Acquisition Of Company's Stake

Shares of Mindtree fell 1 percent in early trade on Tuesday after L&T said on March 18 it would buy 20.32 percent stake at Rs 980 per share in Mindtree for Rs 3,269 crore.

Larsen and Toubro also made an open offer for acquisition of up to 5,13,25,371 fully paid up equity shares having a face value Rs 10 of Mindtree representing 31 percent of the voting share capital at Rs 980 per share, as company BSE Release.

L&T has appointed Axis Capital and Citigroup Global Markets India as the managers to the open offer.

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