LTI and Mindtree to Start Operating as a Merged Entity From November 14, 2022
14.11.2022 17:21:00 EET | Business Wire | Press release
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/
Contact information
Media Contact:
Harsh Kabra
+91 8551882111
media@ltimindtree.com
Shambhavi Revandkar
+91 9769509545
media@ltimindtree.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Behind the Stage Lights: How Students Learned to Trust Their Voices with Doha Debates14.9.2026 16:40:00 EEST | Press release
During high school years in Model United Nations, Dahlia Al-Ansari learned to argue on behalf of a country she was assigned to represent. But when Doha Debates invited her to join a town hall debate in Toronto this July, she faced an unfamiliar challenge: sharing her own beliefs about a timely issue. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914150232/en/ Students from Qatar, Canada and Mexico during their visit to the University of Toronto as part of the Doha Debates Town Hall experience in Canada. (Photo: AETOSWire) An 18-year-old biological sciences student at Carnegie Mellon University in Qatar, Al-Ansari hadn’t traveled to defend a predetermined position. Instead, she discovered that she was there to think critically, express her own viewpoint and remain open to diverse perspectives. This shift required her to navigate uncharted waters, but “I’m happy that it did,” she says. “It’s showing me the importance of sp
Matt Shafer Joins Golub Capital as Head of Golub Equity Continuation Partners14.9.2026 16:30:00 EEST | Press release
Golub Capital (“the Firm”) today announced the appointment of Matt Shafer as Managing Director and Head of the Firm’s GP-led private equity secondaries strategy, Golub Equity Continuation Partners (“GECP”). In this role, he will be responsible for leading the continued growth and development of the strategy and helping expand the Firm’s equity investment capabilities. Matt will work closely with Greg Cashman, Vice Chair and Co-Head of Golub Capital’s Sponsor Finance practice, to expand Golub Capital’s activity in this growing market. Shafer brings nearly three decades of global experience as an investor, financier and advisor working with private equity firms. He was most recently Head of Capital Solutions and U.S. Private Equity at Northleaf Capital Partners. In this role, Shafer helped lead the firm’s private equity investment activities, including secondaries, co‑investments and structured capital. Prior to Northleaf, he was Partner and Head of Americas Private Equity at Vision Capi
HealthCap Invests in AMRA Medical to Accelerate Global Growth in Quantitative MRI14.9.2026 16:19:00 EEST | Press release
AMRA Medical today announced an investment from HealthCap, one of Europe’s leading life science venture capital firms. This milestone marks a significant step in AMRA’s growth, underscoring market confidence in the company’s vision to transform the measurement and understanding of muscle and fat. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914838191/en/ HealthCap Invests in AMRA Medical to Accelerate Global Growth in Quantitative MRI HealthCap’s backing comes as quantitative MRI gains vital importance in understanding how fat distribution and muscle composition influence disease, treatment response, and patient outcomes. Built on over 15 years of research, AMRA’s proprietary methods move beyond conventional metrics—like weight, and BMI and muscle function tests—to provide the standardized, automated data from advanced muscle and fat imaging necessary for modern clinical research. With its deep scientific expertise and
Morgan Stanley Inclusive & Sustainable Ventures Announces 2026 Global Cohort of Innovators14.9.2026 16:00:00 EEST | Press release
Morgan Stanley (NYSE: MS) today announced the 2026 global cohort of its Inclusive & Sustainable Ventures (MSISV). This year’s cohort includes 20 startups and four nonprofits across the Americas and Europe, the Middle East and Africa (EMEA) participating in the firm's five-month accelerator program designed to help early-stage innovators develop and scale their impact. Selected from thousands of applications, the 24 organizations will receive a $150,000 equity investment, or grant funding for nonprofits, as well as access to a curated curriculum, networking opportunities and office space. Founders will work closely with a dedicated MSISV team, Entrepreneurs in Residence and senior Morgan Stanley mentors. Following the five-month accelerator program, the cohort will present at a global showcase and demo day in February 2027. MSISV is focused on advancing solutions in four thematic areas where the firm sees significant potential for scale and measurable impact: Environment, Health & Wellb
Textron Aviation and Merlin Introduce Cessna SkyCourier UX Concept Aircraft14.9.2026 15:00:00 EEST | Press release
Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, and Merlin, Inc. today introduced a concept Cessna SkyCourier UX™ aircraft that combines Textron Aviation’s proven Cessna SkyCourier platform with Merlin’s aircraft-agnostic software solution for autonomous aviation. Revealed at the Air, Space & Cyber Conference, the concept explores a new cost-efficient and scalable approach to addressing logistical challenges with supplying forces dispersed across contested operational environments when traditional supply routes are constrained, vulnerable or otherwise unavailable. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260914611105/en/ The Cessna SkyCourier UX concept explores autonomous resupply operations for dispersed forces operating in contested environments “Military planners are increasingly focused on how to sustain forces across distributed and contested operational environments,” said Bob Gibbs, vice president, D
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