Mindtree-L&T saga: Oversight, price correction behind Nalanda's U-turn

There was a meeting in Mumbai last week between the Mindtree founders and the key institutional investors in the Bengaluru-headquartered IT services firm. This was the founders’ last-ditch attempt at convincing the big investors to stick to the company, which they had earlier seen as a tight ship. However, sources in the know said sensing that there would be no more upside to the share price of Mindtree in the medium term, most of them were inclined to exit with a handsome return than to be caught in the fight between L&T and the founders. After that meeting, it was cle.....
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