L&T acquires TIDCO’s stake in its shipbuilding subsidiary


Engineering conglomerate Larsen & Toubro said on Thursday it has purchased the entire stake held by Tamil Nadu Industrial Development Corporation Limited (TIDCO) in its subsidiary L&T Shipbuilding. Engineering conglomerate Larsen & Toubro said on Thursday it has purchased the entire stake held by Tamil Nadu Industrial Development Corporation Limited (TIDCO) in its subsidiary L&T Shipbuilding.

TIDCO held three per cent stake in L&T Shipbuilding which has now been acquired by L&T to make it a wholly-owned subsidiary. The consideration paid to acquire the stake was Rs 32.74 crore.

L&T Shipbuilding was incorporated on November 13, 2007 and currently operates a modern shipyard from Kattupalli in Chennai.

The company undertakes manufacture and building of warships, auxiliary vessels and specialised commercial ships.  Read More

You may also read!

Defence Ministry to Discuss Corporatisation of Ordnance Factory Board With Employees Federation

After the Defence Ministry clarified yesterday that there was no proposal to privatise the Ordnance Factory Board (OFB), the

Read More...

AirAsia to remove processing fee to keep air travel affordable

AirAsia Bhd will be removing the processing fee for Malaysia for bookings made from Oct 1 to keep air

Read More...

Indian Army blasts Pakistani post after ceasefire violation in Rajouri

Indian Army gave a befitting reply to Pakistani army after it violated ceasefire in Rajouri sector of Jammu and

Read More...

Leave a reply:

Mobile Sliding Menu