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L&T Infotech, Mindtree merge to make India's 5th-largest IT company

Larsen & Toubro Infotech and Mindtree merger received the approval from National Company Law Tribunal

Mindtree campus
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BS Web Team New Delhi
IT companies Larsen & Toubro Infotech (LTI) and Mindtree announced on Monday that their merger has come into effect following approval from regulators and shareholders. The merged entity LTIMindtree is now the fifth-largest IT services company in India in terms of current market capitalisation.

As part of the merger, 73 shares of LTI will be granted to each shareholder of Mindtree for every 100 shares of Mindtree. L&T, the merging entity's parent company will own 68.73 per cent of it. November 24 has been set as the record date to identify Mindtree shareholders who are qualified to receive equity

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