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Mindtree promoters may exit firm, agree to sell stake: report

Jun 26, 2019 18:18 IST

After resisting for four months, promoters of Mindtree have reportedly decided to sell their shares, according to a CNBC-TV18 report. The move came after Singapore-based Nalanda Capital offloaded 10.61% shares at ₹980 per share in the open offer made by L&T. The promoters hold 13.3% stake in the IT firm and may sell their shares via the open offer or through other sources. The report also said that with L&T now holding the controlling stake in the firm, a management rejig is likely to take place. The engineering major Larsen and Toubro on Wednesday acquired 51.8% controlling stake thereby successfully completing India's first hostile takeover in the IT sector.