The construction major's takeover of Mindtree had marked the first hostile acquisition in the country's IT space, and L&T now holds 60.06% stake in the IT firm.
L&T was categorised as the new promoter of Mindtree earlier this month
Mindtree CEO Rostow Ravanan likely to resign in coming weeks as L&T becomes majority shareholder in IT firm
Larsen and Toubro (L&T) had initiated a hostile takeover of Mindtree Ltd in March and has since then expanded its shareholding to a majority stake
Bagchi had resigned as the head of Odisha's Skill Development Authority and made a comeback to Mindtree.
L&T's open offer to Mindtree's shareholders stuck in limbo over Sebi norms; regulator examining conditions for bid
L&T entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32% stake in Mindtree and had also placed an order with brokers to pick up another 15% of the company shares from the open market.
Mindtree promoters allege money offered to them to give away firm; say won't yield to L&T's hostile bid silently
In the country's first hostile takeover bid in the IT sector, Larsen & Toubro on Monday made an offer to buy up to 66 percent stake in the Mindtree for around Rs 10,800 crore, reported PTI.
L&T may spend about $1 billion in Mindtree buyout; ex-CEO Subroto Bagchi resigns from govt post 'to save company' from hostile takeover
L&T will buyout Mindtree's largest shareholder VG Siddhartha and companies in which he is a promoter, following which an open offer will be sent to the public shareholders of Mindtree
Coffee Day Enterprises founder VG Siddhartha may offer alternative security to release attached Mindtree shares
The I-T department has attached a portion of shares held by Siddhartha and Coffee Day Enterprises Ltd in IT firm Mindtree over a potential tax demand.
Coffee Day Enterprises will take 'required action' to get attached Mindtree shares released by I-T dept
Coffee Day Enterprises promoter V G Siddhartha, who owns about 21% stake in Mindtree, is said to be in advanced discussions with various entities to sell his shares in the IT company.
Coffee Day founder VG Siddhartha in talks to sell stake in Mindtree; L&T Infotech may close the deal
Siddhartha is the single largest shareholder in the mid-size IT services headquartered in Bengaluru