Larsen & Toubro Ltd.

Larsen and Toubro’s (L&T) - IT services unit - L&T Infotech has received capital markets regulator SEBI’s approval for its proposed initial public offering (IPO). The issue is being managed by Kotak Mahindra Capital Company, Citigroup Global Markets India and ICICI Securities.

The company had filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) in April. The regulator issued its final observations on the draft offer documents on May 20, which is necessary for any company to launch a public offer.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with operations in over 30 countries worldwide.