L&T shareholders approve transfer of Realty business to subsidiary LTRPL

Scheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

LT · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+1.7%Reaction day

₹3990.00

prior close

₹4025.00

announcement price

After-mkt

timing

Nifty 100market+0.1%+1.6% vs market

Civil Construction peers, median of 100sector+0.4%+1.3% vs sector

On the reaction day the stock moved 1.6 pts more than Nifty 100 and 1.3 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.9

10m

+0.9

15m

+0.8

30m

+0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.7+0.1+1.6+0.4+1.3

Next day

+1.8+0.1+1.7+0.0+1.8

+1.3-0.0+1.3-0.1+1.3

+2.3+0.0+2.2+0.0+2.3

+1.4-0.4+1.8-1.0+2.5

+0.8-0.5+1.3-1.9+2.7

+1.7-0.8+2.4-2.0+3.7

15d

+1.6-1.3+2.8-3.0+4.6

+0.2-3.2+3.4-4.4+4.7

-6.0-8.1+2.0-9.9+3.9

+1.4-0.9+2.3-13.2+14.7

UpDownMarket · Nifty 100Sector · Civil Construction peers, median of 100Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

L&T equity shareholders approved the Scheme of Arrangement to transfer L&T's Realty Undertaking to wholly-owned subsidiary L&T Realty Properties Limited (LTRPL) as a slump sale at enterprise value of 6,300 Crs. 99.07 percent votes in favour, 0.93 percent against. No dilution for L&T shareholders since consideration is paid via equity shares issued by LTRPL to L&T.

Likely market impact

Realty business gets a dedicated platform for sharper focus and easier capital raising. No change in L&T shareholding or shareholder interests.