MINDTREE MATTERS
ITC Infotech set to acquire Happiest Minds, eyes backdoor listing
ITC Infotech is set to acquire a controlling stake in Happiest Minds Technologies from founder Ashok Soota for Rs 2,800-2,900 crore, people familiar with the matter told ET. The deal will trigger an open offer for another 26% stake and could be followed by a reverse merger, amid consolidation in the mid-market IT services sector.
FM directs MCA to address issues related to website glitches
In series of tweets, Sitharaman also asked the ministry to monitor the issues faced by market participants regarding the portal on a daily basis.
Sebi penalises Coffee Day Enterprises, Coffee Day Trading for disclosure lapses
Under the SAST (Substantial Acquisition of Shares and Takeovers) rules, CDEL and CDTL were under an obligation to disclose pledged and unpledged transactions to the company and stock exchanges within two working days of the disposal (pledged) /acquisition (unpledged) of shares exceeding 2 per cent of total shareholding or voting rights in the company.
LTI, Mindtree boards may meet next week to okay merger
Parent Larsen & Toubro (L&T) owns 74.05% of LTI and 60.99% of Mindtree. LTI is trading at a 30% premium to Mindtree.
Larsen weighs merging Mindtree & L&T Infotech into a $22 billion firm
The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units controlled by the Mumbai-based engineering firm, could consider share swap ratios for the merger as early as next week, one of the people said, asking not to be identified as the information is not public.
MindTree zooms 3% on robust Q4 earnings
MindTree’s counter rose to a high of Rs 4,080 as against Rs 3960.80 at previous close on the BSE.
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Will protect Mindtree’s unique culture: L&T CEO
A council will be set up to facilitate exchange of best practices between the two cos, says SN Subrahmanyan.
L&T bid may hit Mindtree Q1 numbers as clients defer deals
The mid-tier IT services company grew 16 per cent in the fourth quarter.
Best of Mindtree yet to come; to grow faster than industry despite uncertainties: Chairman
The Bengaluru-based company described construction major L&T's unsolicited bid to acquire majority holding in the IT firm as "unusual situation".
Larsen & Toubro vs Nalanda Cap stand-off reaches Sebi’s doors
Prasad believes L&T is undervaluing Mindtree and investors should hold out for a better deal.
L&T won’t hike Mindtree offer
Decides to stick to original plan, complete L&T Infotech’s merger with Mindtree by 2023.
Mindtree panel ropes in Khaitan and Co, ICICI Securities as advisors
Mindtree formed the panel of independent directors under Purohit to look into "unsolicited open offer" by L&T.
Mindtree forms panel to weigh L&T offer
L&T’s open offer, at Rs 980 per share, is scheduled to start on May 14 and will close on May 27.
We have been concerned as leaders; that we are promoters is accidental: Rostow Ravanan, Mindtree
Our clients have a lot of confidence in us and have asked to be kept updated, says Ravanan.
Mindtree’s board likely to seek meeting with Larsen & Toubro
Mindtree’s independent directors have voiced their concerns about the board not having a “collective and informed stand” on what is seen as a hostile takeover attempt by L&T.
The two sides of the Mindtree story, decoded down to the last detail
A hostile takeover may be legit, but what of the ethics part? This big face-off will provide many answers.
How Mindtree became the object of a hostile takeover battle between its management and L&T
A deal with L&T would create a $2.4-billion IT services firm with four verticals of reasonable scale.
Mr Bagchi, we have bulldozers, cranes & lots of pyaar too: L&T
We have bulldozers, we have cranes, we make things that make the nation very proud,” Subramanyan told ET.
Mindtree seeks peer support to avert takeover
Industry executives said that the company hopes to repeat the success of IVRCL a few years ago which avoided a hostile takeover by Essel Group.
#MindtreeMatters, say employees to show support
Several tweets came from accounts that were previously dormant for years, or had been set up only in March.
Mindtree promoters condemn hostile takeover, remain opposed to L&T takeover bid
Here is the promoters’ statement that outlines potential negative consequences to corporate culture.
L&T set to seal Mindtree deal with Café Coffee Day founder VG Siddhartha
Mindtree chairman has warned against a hostile takeover bid in a letter to the L&T board on Saturday.
LTI, Siddhartha may seal mindtree deal in 4 days
LTI and Baring Private Equity Asia are in talks to acquire the stake, but the former is ahead in the race.
Baring, L&T said to lead bidding for Mindtree stake
Mindtree shares have climbed about 8 percent this year and rose 2.5 per cent in Friday trading.
CCD's VG Siddhartha may offer alternative security to free up attached Mindtree shares
Siddhartha is said to be in advanced talks with L&T Infotech and private equity firms KKR and Baring to sell his stake in the Bengaluru-based company.
Private equity giant Blackstone keen to buy Global Village Tech Park
Discussions for the tech park and MindTree are separate but happening parallel to each other, the people said.
Mindtree scouts for acquisitions to beef up services portfolio
Mindtree is scouting for "strategic" acquisitions in the package applications and infra management space to strengthen its services portfolio.
MindTree bags UID deal to develop applications
Software services company MindTree on Thursday said it has bagged a multi-crore IT deal from the Nandan Nilekani-headed unique identification project (UID)
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