The latest stock purchase was made at Rs 979.99 apiece; the infrastructure major is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore

The USD 20 billion conglomerate, which has taken its overall holding in Mindtree to about 26 per cent, will launch the open offer to buy additional stake in around 10 days

L&T had purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs 3,210 crore, and has since topped that up with share purchases from the open market

The engineering behemoth missed its May 7 deadline to issue its letter of offer to Mindtree shareholders, reportedly due to late queries posed by the markets regulator to which it could only respond on May 10. The open offer is still awaiting SEBI's green light.

L&T has made a public announcement for the acquisition of 31 per cent shares of Mindtree from the market, with Axis Capital and Citi Global managing the open offer

Earlier this month, Larsen and Toubro had purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through a block deal for about Rs 3,210 crore

According to bulk deal data available with the NSE, L&T bought over 37.53 lakh shares, or 2.28 per cent stake, worth Rs 367.8 crore, with the average price being Rs 979.96 per scrip

On Tuesday, L&T acquired around 3.27 crore Mindtree shares, or almost 20 per cent of the stake, at Rs 980 per share (for a total of Rs 3,211 crore) from Siddhartha and Coffee Day Enterprises through block deals

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

In dollar terms, Mindtree's revenue jumped 15.80 per cent YoY to USD 262 million, while net profit increased merely by 0.3 per cent to USD 28.2 million

The Bengaluru-based company's revenue also increased by 25.6% to Rs 1,839.4 crore in the said quarter, as compared to Rs 1,464 crore in the year-ago period