img

News Topical, Digital Desk : Larsen & Toubro (L&T) has signed a share purchase agreement with Sapura Nautical Power (Sapura), under which L&T will acquire Sapura's 40 percent stake in their joint venture company, L&T Sapura Shipping Private Limited (LTSSPL). The total value of the deal is estimated at approximately ₹122 crore. Upon completion of the acquisition, LTSSPL will become a wholly-owned subsidiary of L&T.

LTSSPL, a 60:40 joint venture between L&T and Sapura, was established on September 2, 2010. The company owns and operates a heavy lift cum pipe-lay vessel (HLPV) used for offshore platform installation and subsea pipe and cable laying. These services are primarily provided to the hydrocarbon upstream industry. 

LTSSPL's turnover is Rs 154.12 crore According to the company, LTSSPL's turnover was Rs 154.12 crore in the financial year ended March 31, 2025. Since Sapura is a related party of LTSSPL. L&T says that this acquisition will strengthen the company's operational flexibility and asset availability for offshore projects. 


Read More: Stock Market Crash: These 5 reasons are why the stock market is declining, with both Sensex and Nifty crashing.

--Advertisement--

L&T Larsen & Toubro Sapura Nautical Power L&T Sapura Shipping LTSSPL Share Purchase Agreement stake acquisition Joint venture wholly owned subsidiary offshore marine construction heavy lift vessel pipe laying vessel hydrocarbon sector offshore projects India Middle east SEBI Regulations related party transaction ₹122 crore deal