L&T may come up with two technology companies' IPOs
DSIJ Intelligence / 13 Jun 2016
Larsen and Toubro (L&T) is about to list its technology companies L&T Infotech and L&T Technology by October 2016.
Larsen and Toubro (L&T) is about to list its technology companies L&T Infotech and L&T Technology by October 2016. The company plans to raise around USD 300 to 400 million (Rs 2011 crore to Rs 2681 crore). According to media reports, L&T is likely to file the DRHP to list L&T Technology services soon. The company’s upcoming listed companies will be separate and independent on the stock exchanges.
The listing of new companies is a part of L&T’s five-year plan project called ‘Lakshya', to consolidate and optimise. This move will help overall group to focus and streamline its core assets.
L&T Technologies has brought together the expertise and resources essential for designing and consulting on purification technologies. The company provides rapid response as well as significant cost savings, by controlling all facets of a project from consultation through design and build.
L&T Infotech is a global IT services and solutions provider. The company provides winning edge to clients by leveraging Business-to-IT Connect and a deeply committed workforce.
The share price of L&T has declined by 2.14 per cent on bourses in early trades; and is trading at Rs 1466.2 on an intraday basis.
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