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!

Spicejet Hires 500 Jet Airways Employees, Including 100 Pilots

Budget carrier SpiceJet on Friday, 19 April, said it has already absorbed over 500 employees, including 100 pilots, of

Read More...

Aircraft Carrier Alliance: Will Britain Build India a New Queen Elizabeth-Class Carrier?

British defense contractor BAE Systems is offering a Queen Elizabeth-class design as a contender for India’s third aircraft carrier,

Read More...

With coastal security in mind, government mulls moving Indian Coast Guard under MHA

Buoyed by the success of the first ever Coastal Defence Exercise (Ex Sea Vigil), the government is mulling on

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu