Larsen & Toubro Limited has completed a significant corporate restructuring by acquiring the remaining stake in L&T Sapura Shipping Private Limited, transforming it into a wholly owned subsidiary. The engineering and construction major announced the completion of this strategic acquisition on January 21, 2026.

Acquisition Details

The company successfully acquired 6,35,41,233 shares previously held by Sapura Nautical Power Pte Ltd, which was the joint venture partner in L&T Sapura Shipping Private Limited. This acquisition represents the culmination of a process that was initially communicated to stock exchanges on January 12, 2026.

Corporate Structure Impact

With this acquisition, L&T Sapura Shipping Private Limited has transitioned from being a joint venture entity to becoming a wholly owned subsidiary of Larsen & Toubro Limited. This change in ownership structure provides the parent company with complete operational and strategic control over the shipping entity.

Regulatory Compliance

The acquisition was completed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations. Larsen & Toubro informed both BSE Limited and the National Stock Exchange of India Limited about the completion through official communication signed by Company Secretary & Compliance Officer Subramanian Narayan.

Strategic Significance

This acquisition consolidates Larsen & Toubro's position in the maritime and shipping sector by bringing the joint venture entity under complete ownership. The move eliminates the joint venture structure with Sapura Nautical Power Pte Ltd and provides greater operational flexibility for future business decisions in the shipping domain.

Larsen & Toubro Limited has successfully completed its postal ballot process, with shareholders approving all seven resolutions with overwhelming majority. The company announced the results on January 19, 2026, following the conclusion of the e-voting period that ran from December 20, 2025, to January 18, 2026.

Board Appointments Receive Strong Shareholder Support

Shareholders demonstrated strong confidence in the company's leadership decisions by approving three key board appointments. The voting results showed exceptional support across all director appointments:

Mr. Amitabh Kant (DIN: 00222708) and Mr. B. Santhanam (DIN: 00494806) were appointed as independent directors for five-year terms beginning October 29, 2025. Ms. Preetha Reddy (DIN: 00001871) was re-appointed as an independent director for five years effective March 1, 2026.

Material Related Party Transactions Approved

Shareholders also approved four ordinary resolutions related to material related party transactions, demonstrating near-unanimous support for the company's strategic business relationships:

These transactions will enable the company to strengthen its business relationships with key subsidiaries and joint ventures across power generation and international operations.

Comprehensive Voting Process

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and SEBI regulations. Key details of the voting process included:

• Record Date: December 13, 2025
• Total Shareholders on Record: 17,35,696
• E-voting Period: December 20, 2025 (9:00 AM) to January 18, 2026 (5:00 PM)
• Total Shares Outstanding: 13,75,580,872
• Scrutinizer: Mr. S. N. Ananthasubramanian (FCS 4206)

The company dispatched postal ballot notices to 16,81,558 members via email on December 19, 2025, and published advertisements in Financial Express (English) and Loksatta (Marathi) newspapers on December 20, 2025.

Strong Institutional Participation

The voting pattern revealed significant participation from institutional investors, with public institutions holding 82,14,73,962 shares and achieving voting participation rates exceeding 93% for director appointments and 72% for related party transactions. Public non-institutional shareholders, holding 55,41,06,910 shares, showed participation rates of approximately 43% for director appointments.

Regulatory Compliance and Transparency

Mr. S. N. Ananthasubramanian, the appointed scrutinizer, confirmed that all votes cast were valid and that the resolutions were passed with requisite majority. The scrutinizer's report noted that votes from related parties were appropriately excluded from the related party transaction resolutions in compliance with SEBI regulations.

The voting results and scrutinizer's report have been made available on the company's investor website, ensuring full transparency and regulatory compliance. This successful postal ballot process reinforces shareholder confidence in Larsen & Toubro's governance practices and strategic direction.