Larsen & Toubro (L&T) on Monday said it has signed a Share Purchase Agreement to acquire the 40 per cent stake held by its joint venture partner, Sapura Nautical Power Pte Ltd, in L&T Sapura Shipping Private Limited (LTSSPL) for ₹122.39 crore.
L&T will acquire 6,35,41,233 equity shares at ₹19.26 per share, valuing the stake purchase at ₹122.39 crore. In addition, LTSSPL will fully repay the outstanding shareholders’ loan of $16.93 million to Sapura.
LTSSPL, incorporated in 2010, owns and operates a Heavy Lift cum Pipe Lay Vessel (HLPV) used for offshore platform installation and subsea pipe and cable laying for the hydrocarbon upstream industry. For FY25, the company reported a turnover of ₹154.12 crore.
The engineering conglomerate said the acquisition will enhance operational flexibility and asset availability for offshore project execution in India and the Middle East. LTSSPL operates in offshore marine construction, which L&T said is complementary to its core engineering and construction verticals.
L&T Sapura Shipping recorded turnovers of ₹154.12 crore in FY25, ₹162.50 crore in FY24, and ₹58.45 crore in FY23.
Post completion of the transaction, L&T will hold 100 per cent ownership of LTSSPL, strengthening its presence in specialised offshore construction and marine infrastructure services.
