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

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