L&T Infotech, subsidiary of Larsen & Toubro (L&T) is looking to raise over Rs 2,000 crore through initial public offering (IPO) in the Q4FY16. The issue proceeds will be used to fund future growth plans.
The company had filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for IPO in September. The issue comprises an offer for sale of up to 1.75 crore equity shares of the face value Re 1 each by Larsen & Toubro.
L&T Infotech, a subsidiary of engineering & construction major Larsen & Toubro, figures among India’s top 10 IT service providers. It is currently looking to pursue strategic acquisitions in Germany and France to enhance capabilities and address gaps in language capability, industry & technical expertise and geographic coverage in these countries.