L&T likely to list both its technology arms by Oct 2016: Sources

Larsen and Toubro (L&T) aims to list both its technology companies L&T Infotech & L&T Technology Services by October 2016 and plans to raise around USD 300-400 million, reports CNBC-TV18’s Kritika Saxena quoting sources.

L&T Infotech focuses on the information technology services while L&T Technology focuses on engineering and infrastructure services. L&T is likely to file the DRHP to list L&T Technology services soon.

Sources suggest that the group will be listing the two companies separately and independently on the stock exchanges.

This move is part of L&T’s five year plan project called ‘Lakshya', to consolidate and optimize. This move will help the group focus on core assets with an aim of streamlining them.