Larsen & Toubro (L&T) has acquired the remaining stake in L&T Sapura Shipping Private Limited (LTSSPL) from its joint venture partner, Sapura Nautical Power Pte Ltd (‘Sapura’). With this acquisition, LTSSPL becomes a wholly owned subsidiary of L&T. The move aims to enhance L&T’s operational flexibility and asset availability for offshore projects, especially in India and the Middle East. The acquisition is expected to be completed by January 31, 2026.
Acquisition Overview
Larsen & Toubro (L&T) has finalized an agreement to acquire the remaining 40% stake in L&T Sapura Shipping Private Limited (LTSSPL) from Sapura Nautical Power Pte Ltd. Following the completion of this transaction, LTSSPL will operate as a fully-owned subsidiary of L&T.
Strategic Rationale
This acquisition is set to provide L&T with increased operational flexibility and greater control over assets essential for executing offshore projects. The move is particularly strategic for projects located in India and the Middle East.
Transaction Details
The acquisition involves purchasing 6,35,41,233 equity shares of LTSSPL at a price of ₹19.26 per share, totaling ₹1,223,904,412. Furthermore, LTSSPL will repay outstanding shareholders’ loans of US$16.93 million to Sapura. Completion of the acquisition is targeted for January 31, 2026, subject to customary conditions.
LTSSPL Profile
LTSSPL operates in the offshore marine construction sector, complementing L&T’s core engineering and construction activities. As of March 31, 2025, LTSSPL reported a turnover of ₹154.12 Crore. The company owns and operates a Heavy Lift cum Pipe Lay Vessel (HLPV) used for installing offshore platforms and laying pipes and cables for the hydrocarbon industry.
Financial Performance Summary
The turnover of LTSSPL for the last three financial years is as follows:
Financial Year Amount in ₹ Crore
2024-25 154.12
2023-24 162.50
2022-23 58.45Source: BSE
