L&T Infotech gets Rs. 2000 crore IPO clearance from SEBI, to use proceeds for future growth
Advertisement
Advertisement
L&T Infotech, a subsidiary of engineering giant Larsen & Toubro, gets IPO clearance nod from markets regulator The issue comprises an offer for sale of up to 1,75,00,000 equity shares of face value of Rs 1 each by Larsen & Toubro.
L&T Infotech, IT services unit of engineering & construction major Larsen & Toubro, figures among India's top 10 IT service providers.
Last month, the company official had said that L&T Infotech is looking to raise over Rs 2,000 crore through the initial public offer (IPO) and the public issue is expected to hit the capital markets in the last quarter of 2015-16.
The IT firm, which clocked a revenue of Rs 5,070 crore in in the financial year 2014-15, is looking for strategic acquisition opportunities in relation to its IMS business.
Advertisement
The company's revenues, in 2014-15, from continuing operations from North America and Europe constituted 68.6 per cent and 17.9 per cent, respectively.
It is currently looking to pursue strategic acquisitions in Germany and France to enhance capabilities and address gaps in language capability, industry & technical expertise and geographic coverage in these countries.
The issue is being managed by
The equity shares offered through the issue are proposed to be listed on
(Image credits: indiatimes)
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market