L&T to Buy Sapura’s 40% Share in Offshore Shipping JV for ₹1,224 Crore

Larsen & Toubro has signed an agreement to acquire the remaining 40% stake in L&T Sapura Shipping Private Limited (LTSSPL) from Sapura Nautical Power Pte Ltd. The consideration for the transaction is ₹1,223.9 crore (₹1,223,904,412). After completion, LTSSPL will become a wholly owned subsidiary of L&T. 

The company disclosed the development in a regulatory filing on Monday. 

Share Purchase Details 

The transaction involves the purchase of 6.35 crore (6,35,41,233) equity shares of LTSSPL at a price of ₹19.26 per share. The payment will be made in cash. At present, L&T holds a 60% stake in the joint venture, while Sapura owns the remaining 40%. 

Once the acquisition is completed, L&T’s shareholding in LTSSPL will increase to 100%. 

Loan Repayment Component 

In addition to the equity acquisition, LTSSPL will repay shareholder loans amounting to $16.93 million to Sapura Nautical Power. The company stated that the acquisition falls under related-party transactions as per regulatory definitions. 

L&T said the deal is being carried out on an arm’s-length basis. 

Business Operations 

LTSSPL was incorporated in September 2010 as a joint venture between L&T and Sapura. The company operates in the offshore marine construction segment. It owns and operates a heavy lift cum pipe-lay vessel. 

The vessel is used for the installation of offshore platforms and for laying subsea pipelines and cables for the hydrocarbon upstream sector. 

LTSSPL Financial Performance 

For the financial year ended 31 March 2025, LTSSPL reported a turnover of ₹154.12 crore. In FY24, the company recorded revenue of ₹162.50 crore. In FY23, turnover stood at ₹58.45 crore. 

The company’s revenues vary based on the timing and execution of offshore projects. 

Completion Timeline 

L&T stated that no government or regulatory approvals are required for the acquisition. The transaction is expected to be completed by 31 January 2026, subject to the fulfilment of customary closing conditions. 

Read More: L&T Share Price in Focus on Partnering with Indian Army for Pinaka Systems Upgrade! 

Larsen & Toubro (L&T) Share Price Performance  

As of January 13, 2026, 9:16 am, Larsen & Toubro Ltd (L&T) share price was trading at ₹3,977.10, a 1.04% down from the previous closing price. 

Conclusion 

Following completion, LTSSPL will operate as a wholly owned subsidiary of L&T, with ownership consolidated under the parent company. 

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