Abstract:
The case is structured around the takeover of Mindtree Ltd (ML) by Larsen & Toubro Ltd (L&T) in
June 2019. ML was founded and nurtured by a group of software professionals. In two decades, it had
blossomed into an enterprise with global presence, US$ 1 billion turnover and a unique organizational
culture. In a strange sequence of events, more than 20% of ML’s shares landed in L&T’s lap. L&T
grabbed this opportunity and ran a systematic campaign to acquire the company. In about 100 days,
L&T achieved its objective and got into the driver’s seat.
The case traces the evolution of ML from a start-up to a publicly held company with global standing.
It examines the circumstances and events leading to L&T getting the initial stake in the company; it
examines the acquisition campaign of L&T and the response of the top management of ML.
Description:
Bhaskaran, P. B. (2021). Mindtree: Tryst with the Corporate Control Market. South Asian Journal of Business and Management Cases, 10(1), 88–100. https://doi.org/10.1177/2277977921991900
