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Motilal Oswal Report
Larsen and Toubro Ltd. announced the merger of Larsen and Toubro Infotech Ltd. and Mindtree Ltd., its two IT services subsidiaries, on May 06, 2022.
On receipt of the National Company Law Tribunal approval, the merger formalities were concluded on Nov 14, 2022 and LTIMindtree started trading from Dec 05, 2022.
The integration of both entities has gone off smoothly, with a few changes in terms responsibility and without any attrition at the senior management level.
As highlighted in our earlier report, the combined entity will sport a more diversified portfolio and offer good revenue synergies.
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