L&T Realty Properties Ltd. (L&T RPL), a wholly owned subsidiary of Larsen & Toubro, has entered into a share purchase and shareholders’ agreement to acquire 100% stake in International Green Scapes Ltd. (IGSL), according to an exchange filing.
Upon completion, IGSL will become a wholly owned subsidiary of the company.
The acquisition, valued at ₹1,123 crore and to be completed by April 15, 2026, will be carried out 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, as per the filing.
IGSL is a real estate company with licenses to develop residential projects in Gurugram, Haryana. The company has reported nil turnover over the past three financial years. 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.
Shares of Larsen & Toubro ended higher on Friday, April 10, by 1.63% at ₹3,959.90 on the NSE.
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