L&T Realty Properties Ltd. Acquires 100% Stake in International Green Scapes Ltd.
Larsen & Toubro's wholly owned subsidiary, L&T Realty Properties Ltd. (L&T RPL), has entered into a share purchase and shareholders' agreement to acquire 100% stake in International Green Scapes Ltd. (IGSL).
- The acquisition, valued at ₹1,123 crore, will be completed by April 15, 2026, through a cash consideration.
- The deal involves the purchase of 58,23,425 equity shares, giving L&T RPL full ownership and control of the entity.
IGSL, a real estate company, has licenses to develop residential projects in Gurugram, Haryana. The company has reported nil turnover over the past three financial years.
- Benefits of Acquisition:
- L&T said the acquisition will enable it to leverage IGSL's land parcel to expand and strengthen its real estate development portfolio.
The company clarified that the transaction does not fall under related party transactions and no regulatory approvals are required for the deal.
Stock Market Reaction:
Shares of Larsen & Toubro ended higher on Friday, April 10, by 1.63% at ₹3,959.90 on the NSE.
Key Highlights:- Acquisition Value: ₹1,123 crore
- Acquisition Completion Date: April 15, 2026
- Equity Shares Purchased: 58,23,425