Larsen & Toubro (L&T) acquired the remaining 26 percent stake in L&T Special Steels and Heavy Forgings Private Limited (LTSSHF) from Nuclear Power Corporation of India (NPCIL) for INR 170 crore.
Feb 21, 2025
Larsen & Toubro (L&T), which already holds 74 percent shareholding in L&T Special Steels and Heavy Forgings Private Limited, has acquired the remaining 26 percent stake in LTSSHF from the Nuclear Power Corporation of India Limited (NPCIL) for INR 170 crore.
The development made LTSSHF, a leading manufacturer of heavy forgings and steel products for power, oil & gas, and nuclear industries, a wholly-owned subsidiary of L&T.
L&T, a multinational conglomerate providing engineering, construction, manufacturing and technology services to a variety of industries, said in a regulatory filing that the acquisition included 1.47 billion equity shares, 1.67 billion preference shares and a secured loan provided by the NPCIL to the LTSSHF.
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The LTSSHF would now be able to undertake incremental investments to increase the breadth of its offerings to address market segments beyond energy and improve overall utilization, it added.
