L&T Realty Developers Ltd., a subsidiary of L&T, has agreed to sell its complete stake in Think Tower Developers Pvt Ltd., the engineering and construction conglomerate said on Thursday.
The agreement is expected to complete on January 30, which is subject to the completion of closing conditions.
"L&T Realty Developers Ltd, a wholly owned subsidiary of Larsen & Toubro Ltd, has entered into an agreement to sell its entire stake of 99 per cent in Think Tower Developers Private Ltd, a subsidiary company, on January 5," Larsen and Toubro said in a regulatory filing.
TTDPL will cease to be a subsidiary company, the filing added.
"The entire stake held by L&T Realty Developers Ltd. in the company is being sold to Pratik Harshad Kalsariya, who does not belong to the promoter group," the company said.
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