Larsen & Tourbo's (L&T) wholly-owned subsidiary, L&T Realty has transferred 2,88,02,880 equity shares in L&T South City Projects to Pragnya South Opportunity Fund & Pragnya Fund II upon receipt of consideration of Rs 1.88 billion on March 20, 2017.
L&T Realty had earlier executed a share purchase agreement (SPA) for selling its entire stake in L&T South City Projects to Pragnya group.
Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
Shares of the company gained Rs 19.7, or 1.28%, to trade at Rs 1,557.95. The total volume of shares traded was 10,713 at the BSE (9.35 a.m., Tuesday).