MUMBAI: Engineering conglomerate Larsen & Toubro has sold 2.4 per cent stake in Mahindra Satyam in September, the outsourcer said in a statement to the stock exchange.
Larsen raised Rs 295 crore ($66.3 million) from the stake sale and now holds 2.16 per cent in Satyam. It had last sold a third of its holding in the outsourcer in November 2009 for about $66 million.
L&T had built a 12 per cent holding in Satyam, but the expansion of share capital following the takeover meant it held 6.9 per cent in Mahindra Satyam.
Last April, L&T lost the race for control of Satyam to Tech Mahindra Ltd, a unit of India's Mahindra & Mahindra Ltd.
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