L&T moves closer to Mindtree takeover after buying Nalanda Capital stake

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Singapore-based Nalanda Capital agreed to sell its entire 10.61% stake in Mindtree Ltd to engineering giant Larsen and Toubro Ltd on Monday. Coincidentally, this came after the Securities and Exchange Board of India (Sebi) issued a show cause notice to Nalanda Capital for asking Mindtree’s public shareholders to refrain from selling shares to L&T in the ongoing open offer at ₹980 per share.

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