LARSEN-&-TOUBRO-INFOTECH
Larsen & Toubro Infotech (BSE: 540005, NSE: LTI) and Mindtree (BSE: 532819, NSE: MINDTREE), leading technology consulting and digital solutions companies under the Larsen & Toubro (L&T) Group, announced that both Mumbai and Bengaluru Benches of Hon’ble National Company Law Tribunal (NCLT) have approved, via two separate orders, the scheme of amalgamation and arrangement between the two companies and their respective shareholders and creditors under section 230-232 and other applicable provisions of the Companies Act, 2013.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221114005625/en/
Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree (Photo: Business Wire)
The two companies had announced their intent to merge in May 2022. This approval clears the way for the merger of the two independently listed companies as LTIMindtree, a scaled-up IT services provider with a client portfolio of more than 750 leading global enterprises from all key industry verticals, and nearly 90,000 professionals spread in more than 30 countries across five continents. LTIMindtree will thus become the fifth largest IT services company in India in terms of current market capitalization. The Effective Date for the company to start operating as one entity is November 14, 2022.
As part of the merger, all shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. The parent company, L&T, will hold 68.73% of the merged entity. The Record Date to determine the eligible shareholders of Mindtree for issue of equity shares of LTI pursuant to the scheme is fixed as November 24, 2022.
Mr. A. M. Naik, Group Chairman of L&T and Chairman of LTIMindtree, said, “LTIMindtree is integral to L&T’s technology-led growth vision and is poised to play a crucial role in the expansion and diversification of our services portfolio. The highly complementary strengths of LTI and Mindtree make this integration a win-win proposition for all our stakeholders — clients, partners, investors, shareholders, employees, and communities — furthering L&T’s tradition of innovation, excellence, trust, and empathy.”
Mr. S. N. Subrahmanyan, Chief Executive Officer and Managing Director of L&T, and Vice-Chairman of LTIMindtree, said, “We are grateful to the authorities for the swift passage of the proposed transaction through statutory processes and for its approval in a record time. This integration is much more than just the coming together of two highly successful companies. It is about turning the collective wisdom of the two companies into a much larger force for creating long-term value for all our stakeholders.”
Mr. Debashis Chatterjee, Chief Executive Officer and Managing Director of LTIMindtree, said, “Amid the proliferation of new business models and revenue streams in a rapidly converging world, LTIMindtree will help businesses proactively take on and shape the future by harnessing the full power of digital technologies. Armed with top talent, comprehensive offerings, and a cumulative experience of more than five decades, LTIMindtree brings the diversity of scale and capabilities required to help businesses reimagine possibilities, deliver impact, and get to the future, faster.”
Both LTI and Mindtree have delivered market-leading financial performance and created value for shareholders. By combining their strengths and unlocking the benefits of scale, LTIMindtree will operate with a stronger, highly diversified portfolio of end-to-end services and skills across a wider market footprint. It will bring a converged point of view based on its expanded cross-industry expertise to help clients tap into opportunities presented by the blurring of industry lines. This will significantly enhance LTIMindtree’s ability to deliver across larger, more significant transformation engagements, and collaborate with hyperscalers, enterprise solutions, SaaS platforms, and product companies for faster innovation and time-to-market. A stronger balance sheet will also augment LTIMindtree’s ability to make strategic investments in platforms, talent, technologies, and client relationships. All this will help LTIMindtree create a more distinctive value proposition for its clients, teams, and communities at large.
About LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 750 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by nearly 90,000 talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit www.ltimindtree.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005625/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
EIG’s MidOcean Energy Completes Acquisition of Interest in Canada from PETRONAS17.12.2025 09:58:00 CET | Press release
MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its acquisition of a 20% interest in PETRONAS’ key entities in Canada. The transaction includes a 20% interest in the North Montney Upstream Joint Venture (“NMJV”), which holds PETRONAS’ upstream investment in Canada, and a 20% interest in the North Montney LNG Limited Partnership (“NMLLP”), which holds PETRONAS’ 25% participating interest in the LNG Canada Project. This strategic investment positions MidOcean across the LNG value chain, securing upstream resources and downstream liquefaction through the LNG Canada Project, with around 0.7 MTPA of associated LNG and potential to grow further. RBC Capital Markets acted as financial advisor to MidOcean, and Latham & Watkins acted as legal advisor. About EIG EIG is a leading institutional investor in the global energy and infrastru
Nexo Announces Landmark Crypto Partnership with Tennis Australia for Australian Open and Summer of Tennis17.12.2025 09:00:00 CET | Press release
Nexo has signed a landmark multi-year deal with Tennis Australia, covering the Australian Open and the Summer of Tennis. The partnership delivers exclusive experiences, including a feature in the Coachеs Pod. The announcement continues Nexo’s rapid global expansion, following three other major sports partnerships in 2025. Nexo, the premier digital assets platform, has entered a landmark multi-year global partnership with Tennis Australia, becoming the Official Crypto Partner of the Australian Open and the Summer of Tennis, including the United Cup, Adelaide International, Brisbane International, and Hobart International. This agreement marks the first time a digital asset company has partnered with a Grand Slam tournament, affirming Nexo’s prestige, long-term vision, and leadership at the intersection of elite sport and digital assets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251216497915/en/ Antoni Trenchev, Co-founde
Outpost24 Secures New Investment to Scale its Exposure Management and Identity Security Solutions17.12.2025 08:00:00 CET | Press release
The strategic funding from international investment firm Vitruvian Partners will advance the company’s platform, helping organizations rapidly transform threat data into decisive action and a more robust security posture. Outpost24, a leader in exposure management and identity security, today announced a new investment from Vitruvian Partners to fuel its next phase of global growth. This significant new funding will accelerate innovation across the company's platform, with a focus on integrating AI capabilities to optimize how security teams identify and neutralize critical vulnerabilities. The only European vendor recognized as an overall leader in the 2025 KuppingerCole Leadership Compass Report for Attack Surface Management, Outpost24 delivers a distinct approach to cyber defence that empowers security teams to gain a complete understanding of their digital and human risk landscape. Last week, Outpost24 announced the acquisition of Infinipoint, a specialist in device identity, postu
VeritasChain Unveils VAP Architecture, New Auditability Research, and Confirms Submissions to 58 Regulators Globally17.12.2025 08:00:00 CET | Press release
VeritasChain today unveiled its Verifiable AI Provenance Framework (VAP) architecture, published new research on verifiable audit trails, and confirmed informational submissions to 58 regulatory authorities across 43 jurisdictions. These milestones advance VeritasChain’s mission to establish a global framework for verifiable auditability in AI and algorithmic trading. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251216433807/en/ Map indicates jurisdictions where regulatory outreach or informational submissions have been made as of Dec 2025. Verifiable AI Provenance Framework (VAP) VAP is a layered assurance architecture designed for independent verification of AI decision-making. It is not a single product, but a framework defining how cryptographic evidence and third-party verification interoperate across diverse systems. The architecture records decision-to-execution events as immutable audit trails, facilitating regulat
New Published Data Confirms Nemluvio® (Nemolizumab) Can Rapidly Relieve Itch and Improve Sleep in as Early as Two Days in Both Atopic Dermatitis and Prurigo Nodularis17.12.2025 07:00:00 CET | Press release
Post-hoc analyses of the phase III ARCADIA and OLYMPIA clinical trial programs, published in the Journal of the European Academy of Dermatology and Venereology, highlight nemolizumab’s fast onset of action and improvement of itch and sleep disturbance in patients with moderate-to-severe atopic dermatitis and prurigo nodularis1 Significant improvements in itch were observed as early as 48 hours after initial treatment and steadily increased through to Day 141 Nemolizumab is the first approved monoclonal antibody that specifically targets and inhibits the signalling of IL-31 – a neuroimmune cytokine that drives itch and other symptoms in atopic dermatitis and prurigo nodularis2-4 Nemolizumab is approved by multiple regulatory authorities around the world for the treatment of moderate-to-severe atopic dermatitis and prurigo nodularis, including in the U.S. and EU5,6 Galderma (SIX: GALD), the pure-play dermatology category leader, today released new clinical data confirming nemolizumab’s r
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom