Company Acquires Stake in Sapura Nautical Power – Details Inside

Larsen & Toubro (L&T) has signed a share purchase agreement with Sapura Nautical Power (Sapura) to acquire Sapura’s 40 percent stake in their joint venture company, L&T Sapura Shipping Private Limited (LTSSPL). The deal is valued at approximately Rs 122 crore. Upon completion of the acquisition, LTSSPL will become a wholly-owned subsidiary of L&T.

LTSSPL is a joint venture between L&T and Sapura, formed in a 60:40 ratio on September 2, 2010. The company owns and operates a heavy lift cum pipe-lay vessel (HLPV), which is used for the installation of offshore platforms and laying subsea pipelines and cables. These services are primarily provided to the hydrocarbon upstream industry.

LTSSPL’s Turnover: Rs 154.12 Crore

According to the company, LTSSPL’s turnover for the financial year ended March 31, 2025, was Rs 154.12 crore. Since Sapura is a related party to LTSSPL, L&T states that this acquisition will strengthen the company’s operational flexibility and asset availability for offshore projects.