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L&T Infotech and Mindtree hosted a joint conference call on May 06, 2022. In the conference call, the companies were represented by Mr Debasis Chatterjee-CEO Mindtree,Mr Nachiketh Deshpande-Director L&T Infotech, Mr Anil Rander-CFO L&T Infotech and Mr Vinit Teredesai-CFO Mindtree.
Key takeaways of the call
Board of Directors of both the companies met and have approved the merger of L& T Infotech and Mindtree through amalgamation.
The combined entity will become the 5 th largest IT company above Tech Mahindra.
Two companies together had revenues of US $ 3.5 billion and PAT of combined entity is US $ 530 million in FY2022.
The combined entity will be led by Mr Debasis Chatterjee. MR Sanjay Jalona (MD L& T Infotech)has resigned due to personal reasons.
Shareholders of Mindtree will get 73 shares of L&T Infotech for 100 shares of Mindtree. Larsen and Toubro (Promoter) will own 68.7% stake in the merged entity.
The valuation is arrived based on financ...
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