L&T gets all excited about "listing"

L&T was in the limelight yesterday after it had announced winning orders worth Rs.1507 crore. The momentum continues into today also. The reason today – the much anticipated listing of its infotech arm, L&T Infotech might happen earlier than expected. The company had earlier said that it was looking at listing sometime in 2016 but reports have emerged that it is looking at December 2015.

The company will unlock immense value, given the pedigree of its parent. L&T is planning to raise around Rs.1600 to 1800 crore by diluting some 10-12% stake. The company is currently in the process of shortlisting the book makers. Considered to be the last of the big IT companies of India to list, in the same league as TCS, Infosys, Wipro and HCL, the company in this fiscal could end with a turnover over one billion dollar.

After listing L&T Infotech, in July 2016, the plan is to list one more company – L&T Technology Services, its engineering services arm.

L&T stock is thus enthused with all these plans and is currently up almost 2% at Rs.1760, closer to its intra day high of Rs.1763.70. Its 52-week high stands at Rs. 1,892.95.