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July 02, 2015 4:56 AM ET

IT Services

Company Overview of Larsen & Toubro Infotech Limited

Company Overview

Larsen & Toubro Infotech Limited offers information technology (IT) solutions and services. The company's products include Unitrax, a SaaS-based transfer agency record keeping platform and AccuRUSI, a property and casualty (P&C) commercial lines underwriting solution. Additionally, it offers application development, application maintenance and support, application outsourcing, system integration, testing, consulting, enterprise integration, and mobility services. The company caters to plant equipment and industrial machinery, energy and process, banking and financial services, insurance, healthcare and life sciences, media and entertainment, and travel and logistics sectors. Its clientele in...

L&T House

Ballard Estate

Mumbai,  400001

India

Founded in 1996

7,220 Employees

Phone:

91 22 6752 5656

Fax:

91 22 6752 5858

Key Executives for Larsen & Toubro Infotech Limited

Managing Director and Executive Director
Age: 70
Chief Operating Officer and Executive Director
Age: 55
Executive Director and Member of Board of Directors
Compensation as of Fiscal Year 2015.

Larsen & Toubro Infotech Limited Key Developments

IT Solutions Arm Of L&T To List By December 2015

Larsen & Toubro Limited (BSE:500510) (L&T) is looking to raise INR 16 billion-INR 18 billion by diluting 10%-12% stake in Larsen & Toubro Infotech Limited (L&T Infotech), said a media report. AM Naik, Chairman of L&T confirmed the news. In an interview to CNBC-TV18, he said L&T Infotech is likely to be listed in November 2015-December 2015 and L&T will divest 10% stake. "Regulatory approvals & other clearances will take 4-5 months," he added. "L&T Technology Services will get listed by July 2016, we are looking to list L&T Transmission & Distribution business by 2017 and we expect to list L&T Hyrdrocarbons business by 2018," he explained schedule for listing of various businesses. Shares of L&T climbed more than 2% intraday on June 23, 2015 as media report suggested that its subsidiary L&T Infotech is planning to list by December 2015.

L&T Reportedly To Sell Stake In Three Subsidiaries

Larsen & Toubro Limited (BSE:500510) (L&T) is reportedly planning to sell stake in its three subsidiaries to exit non-core areas. L&T is expecting to raise $1- $1.5 billion from the sale. L&T has mandated Citigroup to scout for buyers for certain assets, including EWAC Alloys Limited and L&T Valves Limited it expects L&T Valves to fetch about $700 million. Further, L&T is eyeing a partial stake sale in Larsen & Toubro Infotech Limited.

L&T Reportedly Mulls IPO For L&T Infotech

Larsen & Toubro Limited (BSE:500510) is seeking to sell atleast 10% stake in Larsen & Toubro Infotech Limited or make an initial public offering by 2016, sources said. L&T spokesperson termed it as market speculation.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 28, 2014
Information Systems Resource Centre Pvt. Ltd.
 

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