Larsen & Toubro Limited (LT) has executed a Share Purchase Agreement to acquire the entire 40% shareholding of its joint venture partner, Sapura Nautical Power Pte Ltd (‘Sapura’), in L&T Sapura Shipping Private Limited (LTSSPL). The acquisition, valued at ₹1,223,904,412 (approximately ₹122.39 Crore) in cash consideration, is expected to be completed by January 31, 2026, subject to customary conditions.

Upon completion, LTSSPL will become a wholly-owned subsidiary of Larsen & Toubro. LTSSPL, incorporated in September 2010, owns and operates a Heavy Lift cum Pipe Lay Vessel (HLPV) for the offshore hydrocarbon upstream industry. The company's turnover for the financial year ended March 31, 2025, was ₹154.12 Crore. The acquisition is considered a Related Party Transaction as Sapura is a related party to LTSSPL, but it is being conducted on an arm’s length basis.

This strategic move is aimed at strengthening Larsen & Toubro’s operational flexibility and asset availability for offshore projects, particularly in India and the Middle East. The offshore marine construction segment, where LTSSPL operates, is complementary to L&T’s core engineering and construction businesses. The transaction also includes the repayment of outstanding shareholders’ loan aggregating US$16.93 million to Sapura. No governmental or regulatory approvals are anticipated to be required for this acquisition.