L&T Infotech IPO likely in mid-2016: Report

13 Feb 2015

L&T Infotech, the IT services and solutions arm of Larsen & Toubro group, is expected to launch public listing of its equity shares as soon as mid-2016, as per leading media house CNBC.

In an interaction with CNBC, L&T Infotech, chief operating officer, Chandrasekhar Kakal said that the company aims to generate revenues of over USD 1 billion in FY16 before it comes with its IPO in mid-2016.

Speaking about the buzz over the possibility of merger with L&T Engineering Services, Kakal said that the two companies exist in order to bring in sharper focus.

The company is likely to close FY15 with revenues of USD 900 million, with a revenue growth at par with the industry's 13 percent, he added.

Source: Dion Global Type: IPO Related

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