Comments
Shares of the combined entity L&T Infotech and Mindtree — LTIMindtree — commenced trading on Monday. As per the merger proposal, shareholders of erstwhile Mindtree were allotted 73 shares of LTI for every 100 shares. The parent company, L&T, holds 68.73 per cent of LTIMindtree.
Shares of Mindtree were de-listed from November 23.
The stock on Monday closed 1.84 per cent lower at ₹4,974.50 on the BSE as against Friday’s closing price of ₹5,068. During the day, the stock hit a high of ₹5,120.40 and a low of ₹4,963.
Formal existence
LTIMindtree came into formal existence on November 14, through the merger of erstwhile Larsen and Toubro Infotech (LTI) and Mindtree under the Larsen & Toubro (L&T) Group.
A scaled-up IT services provider with a client portfolio of more than 750 global enterprises and nearly 90,000 professionals in over 30 countries across five continents, LTIMindtree at ₹1.47-lakh crore is the fifth largest IT services company by market capitalisation behind TCS (₹12.53-lakh crore), Infosys (₹6.90 lakh crore), HCL Technologies (₹3.06-lakh crore) and Wipro (₹2.26-lakh crore).
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.