Larsen & Toubro to acquire 40% stake in L&T Sapura Shipping for ₹122.39 Crore
Larsen & Toubro will acquire Sapura's 40% stake in L&T Sapura Shipping for ₹122.39 Crore in cash. The transaction, expected by Jan 31, 2026, will make LTSSPL a wholly-owned subsidiary. LTSSPL operates an HLPV, with FY25 turnover at ₹154.12 Crore. This acquisition strengthens L&T's offshore project capabilities.
The acquisition is of a subsidiary that contributes to the company's revenue and operational capabilities in a complementary sector. While strategically beneficial, it does not represent a transformative change in the company's overall business model or financial scale.
The acquisition is positive as it will make a subsidiary wholly-owned, strengthening operational flexibility and asset availability for offshore projects, which are complementary to the company's core business.
Larsen & Toubro Limited (LT) has executed a Share Purchase Agreement to acquire the entire 40% shareholding of its joint venture partner, Sapura Nautical Power Pte Ltd (‘Sapura’), in L&T Sapura Shipping Private Limited (LTSSPL). The acquisition, valued at ₹1,223,904,412 (approximately ₹122.39 Crore) in cash consideration, is expected to be completed by January 31, 2026, subject to customary conditions.
Upon completion, LTSSPL will become a wholly-owned subsidiary of Larsen & Toubro. LTSSPL, incorporated in September 2010, owns and operates a Heavy Lift cum Pipe Lay Vessel (HLPV) for the offshore hydrocarbon upstream industry. The company's turnover for the financial year ended March 31, 2025, was ₹154.12 Crore. The acquisition is considered a Related Party Transaction as Sapura is a related party to LTSSPL, but it is being conducted on an arm’s length basis.
This strategic move is aimed at strengthening Larsen & Toubro’s operational flexibility and asset availability for offshore projects, particularly in India and the Middle East. The offshore marine construction segment, where LTSSPL operates, is complementary to L&T’s core engineering and construction businesses. The transaction also includes the repayment of outstanding shareholders’ loan aggregating US$16.93 million to Sapura. No governmental or regulatory approvals are anticipated to be required for this acquisition.
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Larsen & Toubro Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Larsen & Toubro Limited. Read the original for the full detail.