FCC

L&T Realty Developers offloads entire stake in Think Tower Developers

2023-01-06

L&T Realty Developers, a subsidiary of L&T, has agreed to sell its entire stake in Think Tower Developers. The agreement is expected to be finalised on January 30th if all closing conditions are met.

In a regulatory filing, Larsen and Toubro (L&T) stated, "L&T Realty Developers, a wholly owned subsidiary of Larsen & Toubro, has entered into an agreement to sell its entire stake of 99 per cent in Think Tower Developers, a subsidiary company on January 5." According to the filing, Think Tower Developers will no longer be a subsidiary company. The company stated, "Praktik Harshad Kalsariya, who does not belong to the promoter group, is being sold the entire stake held by L&T Realty Developers in the company."