Page 11 - Mindtree

Over 1 cr pledged shares of Mindtree released on May 30: Regulatory filing

IT firm Mindtree on Tuesday informed stock exchanges that around 1.10 crore pledged shares of the company were released on March 30, following instructions from various debenture holders. The shares were pledged by Coffee Day Enterprises. Mindtree is in the midst of a takeover battle, with Larsen & Toubro (L&T) seeking to take control of the mid-sized IT firm. However, Mindtree's promoters are opposed to the proposed deal. "(A total of) 1,10,19,467 equity shares (6.71 per cent stake) were pledged in favour of IDBI Trusteeship Services Ltd... have been released pursuant to the instruction of various debenture holders of various NCDs issued," Mindtree said in a filing to the exchanges. IDBI Trusteeship Services Ltd is the debenture trustee for various Non-Convertible Debentures (NCDs) issued by Coffee Day Enterprises Ltd. Coffee Day Enterprises had pledged the shares of Mindtree. The pledged shares were released on March 30, 2019, as per the filing. Last week, L&T purchased .

L&T, Mindtree may see second round of sparring over shareholder meet

Multiple sources said the idea of holding an EGM seemed inducting an L&T representative into the Mindtree board

L&T buys V G Siddhartha, Coffee Day stake in Mindtree for Rs 3,210 cr

L&T bought 3.27 crore shares held by Siddhartha and Coffee Day Trading Limited on Tuesday

Mindtree's Q4 casts doubts on immediate gains for L&T from the buyout

Lower deal wins, high attrition and management transition due to L&T's takeover to weigh on Mindtree's growth

Next $1-billion revenue will come sooner: Mindtree's Rostow Ravanan

Ravanan, who has been at the helm of the firm for the past three years, says the senior leadership team is not distracted by the L&T move

With 25% rise in Q4, Mindtree revenue touches $1-billion mark in FY19

Revenue for the March quarter was Rs 1,839 crore, a rise of 25.6 per cent over a year and 3.8 per cent over the earlier quarter

Mindtree's Rs 530-cr dividend payout to make its takeover costlier for L&T

The dividends have been declared to commemorate completion of 20 years of the company's operations

Mindtree's special dividend may cost firm Rs 530 cr ahead of L&T takeover

The company has declared an interim dividend of Rs 3 per share that will be paid before May 10 and also pay Rs 4 a share in final dividend, besides Rs 20 in special dividend

Corporate houses, mutual funds raise exposure to Mindtree in Q4

Holdings of foreign portfolio investors dip

CCI approves L&T's proposal to acquire up to 66.15% stake in Mindtree

For a controlling stake of 66 per cent in Mindtree, L&T is likely to spend around Rs 10,700 crore

CCI approves L&T's proposed acquisition of 66.15% stake in Mindtree

L&T has made an unsolicited offer to acquire majority stake in Mindtree and an committee of the IT firm's independent directors is looking into it

Mindtree independent directors' panel appoints external advisors

Khaitan and Co named legal counsel, ICICI Securities to be financial advisor

Mindtree panel ropes in Khaitan and Co, ICICI Securities as advisors

The independent directors' committee formed by IT company Mindtree to look into the "unsolicited open offer" by Larsen & Toubro on Tuesday roped in ICICI securities and Khaitan and Co as independent advisors. The committee has been formed to give its recommendations on the open offer for the consideration of shareholders. Lead independent director Apurva Purohit, who is also Jagran Prakashan's President, in a statement said, "The Committee held its first meeting today and has appointed Khaitan and Co. as its independent legal counsel and ICICI Securities Limited as its independent financial advisors to provide assistance in the matter. "The written reasoned recommendations on the open offer shall be provided within the timeline and as per the guidelines laid down by SEBI." IT company Mindtree formed the panel of independent directors under Purohit to look into "unsolicited open offer" by L&T. The committee is expected to submit its recommendations by May 11. "This Committee ...

Mindtree forms panel over L&T open offer, nixes share buyback plan

IT company Mindtree Tuesday formed a panel of independent directors to look into "unsolicited open offer" by infrastructure major Larsen & Toubro to give its recommendations. The board of the company has also decided that it will not move ahead with its share buyback plan. The board formed a committee of independent directors under lead independent director and Radio City CEO Apurva Purohit to provide its recommendation on "unsolicited offer" made by L&T, the company said in a regulatory filing. "The board of directors of the company, at it meeting held on March 26, 2019, has decided not to proceed with a buy-back of equity shares of the company," Mindtree said in a regulatory filing. L&T has made an open offer to acquire over 5.13 crore shares, accounting for 31 per cent stake, of Mindtree for Rs 980 per cent share aggregating to Rs 5,030 crore. "After details deliberations and discussions, the Board in its meeting today, decided to immediately constitute a committee of ..

Mindtree prepared for a set of eventualities: Krishnakumar Natarajan

Natarajan tells Debasis Mohapatra & Bibhu Ranjan Mishra the focus is to ring-fence customers and staff

Mindtree strikes conciliatory note, open to 'middle ground' over L&T bid

"We think there can certainly be a middle ground to protect the interests of our customers, shareholders and Mindtree minds" said Krishnakumar Natarajan

Mindtree drops buyback plan, forms panel to evaluate L&T's open offer

According to Sebi norms, a share buyback is possible only when an open offer is in place after receiving approval from 75 per cent of the shareholders

Mindtree will unitedly resist L&T, protect interests of stakeholders: CEO

According to the law, independent directors are supposed to express an opinion on whether the price offered by L&T in the open offer is fair or not

L&T knocking at its door, Mindtree board to decide on buyback Tuesday

Bengaluru firm should follow AM Naik's footsteps to thwart L&T's takeover bid

Mindtree takeover plan: L&T explores backchannel talks for bid

L&T is keen to explore a middle path that will not only help it in addressing Mindtree's concerns but also in increasing the acceptance of its bid to take controlling stake in the firm