LTI-Mindtree merger latest news: LTIMindtree shares to list today; check ratio | LTIMindtree Share Price NSE

LTIMindtree Share Price, LTI Mindtree Merger News: After the merger of Larsen & Toubro Infotech and Mindtree, shares of new company — LTIMindtree will list on exchanges today, December 5. LTI and Mindtree had last month announced the completion of their merger. The merger was effective from November 14.

The new shares of LTIMindtree allotted in lieu of Mindtree shares will be available for trading today, along with the existing equity shares of the company.

The management had fixed November 24 as the record date and the shares of Mindtree were suspended for trading from November 23. November 22 was the last date for trading for Mindtree shares.  

As part of the merger, all shareholders of Mindtree were issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree. 

The parent company, L&T, holds 68.73 per cent of the merged entity. The Record Date to determine the eligible shareholders of Mindtree for the issue of equity shares of LTI pursuant to the scheme was fixed as November 24.

The operationalisation of the merger–Mindtree with LTI (Larsen & Toubro Infotech) was announced to be effective from November 14.

The new entity ‘LTMindtree’ has become the country’s 5th largest software firm with a revenue of USD 5.25 billion this year.

The new company is headquartered in Mumbai, and is independent of L&T, which will also mean that the head of the new entity will not be on the board of L&T, said Naik, who is the chairman of the new entity while L&T chief executive SN Subrahmanyan will be vice-chairman.

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