Indian engineering firm Larsen & Toubro Monday said it has rescheduled the initial public offering of unit L&T Infotech to 2009, reports CNBC-TV18 quoting NW18.
"We are not in a hurry and we will not get the required valuation in the present market conditions. So we have postponed it," Chairman and Managing Director A M Naik told reporters on the sidelines of a company event.
The IPO was originally scheduled for late this year, 2008.
Naik said also that the likely slowdown in the global economy isn't worrying the company's infotech division. "We are growing faster than any other mid-sized software company," he said.
Source: Moneycontrol.com
Showing posts with label L and T Infotech IPO. Show all posts
Showing posts with label L and T Infotech IPO. Show all posts
Monday, February 25, 2008
Saturday, February 16, 2008
L&T Infotech IPO postponed indefinitely
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
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, December 1, 2007
L&T Infotech IPO likely in H2 2008
In an interview with CNBC-TV18, Y M Deosthalee, CFO of Larsen and Toubro said that current order book of the company stood at Rs 44000 crore. 35%-40% of order book from infrastructure projects, which not including power.
The company is looking at an order book growth of 25% and 30% plus growth in topline, he said.
Average execution period is of 2 years for the order book.
The company has no plans of raising funds in the pipeline. It raised USD 275-280 million in syndicated loans, USD 400 million in GDR offering, he added.
L&T Infotech IPO is likely in H2 2008. L&T Infra Development will go for IPO by 2009-10, he said.
Source: Moneycontrol.com
The company is looking at an order book growth of 25% and 30% plus growth in topline, he said.
Average execution period is of 2 years for the order book.
The company has no plans of raising funds in the pipeline. It raised USD 275-280 million in syndicated loans, USD 400 million in GDR offering, he added.
L&T Infotech IPO is likely in H2 2008. L&T Infra Development will go for IPO by 2009-10, he said.
Source: Moneycontrol.com
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