Larsen and Toubro's IT subsidiary L&T Infotech has indefinitely postponed listing this financial year due to volatility in the markets and lower valuations of Indian IT companies, reports CNBC-TV18.
L&T had earlier said that the Infotech arm would list, when it crossed the figure of USD 500 million in revenues. L&T expects to do that in fiscal 2008.
VK Magapu, Chief Executive, L&T Infotech said, "All the time we said we would do it when the conditions were right and we don't think that the conditions are looking right now so it's a question of planning, it may not fit inn immediately."
Source: Moneycontrol.com
Saturday, February 16, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment