Larsen & Toubro Ltd.

Larsen & Toubro’s (L&T) infotech arm - L&T Infotech is set to launch its 1.75 crore equity shares Initial Public Offer (IPO) for subscription on July 11, which will close on July 13. The issue is an offer for sale by promoter L&T that holds 94.96 percent stake in the IT Company. The equity shares are proposed to be listed on the BSE and the NSE.

The book running lead managers to the issue are Citigroup Global Markets India, Kotak Mahindra Capital Company and ICICI Securities. Link Intime India is the registrar.

L&T Infotech recorded consolidated profit of Rs 769.16 crore in FY15, a 17% de-growth compared with year-ago period. The revenue during the year increased 4.8% to Rs 5,069.5 crore.