Larsen & Toubro Acquires Remaining 26% Stake in L&T Special Steels and Heavy Forgings, Making it a Wholly Owned Subsidiary

Larsen & Toubro Ltd. (L&T) has acquired the remaining 26% stake in L&T Special Steels and Heavy Forgings Private Limited (LTSSHF) from Nuclear Power Corporation of India Limited (NPCIL). This acquisition marks the end of a joint venture between L&T and NPCIL, resulting in LTSSHF becoming a wholly owned subsidiary of L&T. LTSSHF, a company incorporated in 2009, is a state-of-the-art fully integrated facility for manufacturing heavy forgings, and caters to specialized requirements of various industries. The acquisition cost was Rs. 170 crore. With 100% ownership, LTSSHF will be able to undertake incremental investments to increase the breadth of its offerings and improve overall utilization.