Larsen & Toubro has been allotted 1,25,00,000 equity shares of Indian Foundation for Quality Management (IFQM) representing 12.25% stake in IFQM.
IFQM is a not-for-profit company incorporated under Section 8 of the Companies Act, 2013, with the primary objective of being an integrated empowered foundation which would be at the forefront of driving positive change in the Indian industry.
IFQM's mission is to "Act as a Catalyst for Indian Businesses to become Globally respected" and stay committed to offer expertise and solutions to enhance Brand India, globally, through continuous improvements in products and services.
As the leading engineering company known for its penchant for Quality, joining IFQM, the India Specific Quality Foundation, would enhance brand India with commensurate benefits to the Company's positioning.