Stock Report

L&T arm to acquire stake in OPRO.AI Inc

Posted On : 2022-12-09 14:21:35( TIMEZONE : IST )

L&T arm to acquire stake in OPRO.AI Inc

Larsen & Toubro International FZE (LTIFZE), a wholly owned subsidiary of Larsen & Toubro Limited ('L&T') has entered into a Share Purchase Agreement on December 8, 2022, to purchase stake in OPRO.AI INC., a Delaware Corporation.

OPRO.AI Inc. was incorporated in 2021 in the State of Delaware and offers system optimization for process industries, leveraging its Industrial AI platform, AI/ML techniques and algorithms, to achieve higher yields, lower energy use, reduced emissions, safer and stabilized operations.

LTIFZE shall receive 869,565 shares of Series A Preferred Stock for the a consideration of USD 1 Mn.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 2167.30 as compared to the previous close of Rs. 2123.50. The total number of shares traded during the day was 75774 in over 6685 trades.

The stock hit an intraday high of Rs. 2173.95 and intraday low of 2122.00. The net turnover during the day was Rs. 162999881.00.

Source : Equity Bulls


LarsenandToubro INE018A01030 SPA StakeAcquisition LarsenandToubroInternationalFZE DelwareCorporation