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As of 31 March 2022, L&T has 93 subsidiaries, 5 associate companies, 27 joint ventures and 35 joint operations. [18]L&T – Construction Equipment Limited: having its registered office at Mumbai, India and focusing on construction equipment and mining equipment, L&T-Komatsu Limited [19] was a joint-venture of Larsen and Toubro, and Komatsu Asia Pacific Pte Limited, Singapore, a wholly owned ...
After the merger, LTIMindtree became India's fifth largest provider of IT services by market capitalisation and sixth largest by revenue. Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity. [20]
Larsen & Toubro (L&T), an infrastructure major and one of the largest conglomerates in India, took over control of Mindtree in June 2019 and currently has a 61.08% stake in the company. [17] [18] [5] L&T's takeover of Mindtree was described at the time as the first hostile takeover in the Indian IT industry. [19] [20]
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In its first year, the company generated $70 million in revenue. Initially, it only operated as the engineering arm of Larsen & Toubro [6] and in 2013, as a result of L&T's strategy, the parent company was split into "nine verticals and six subsidiaries", of which this was one.
S. N. Subrahmanyan joined the ECC Division of Larsen & Toubro in 1984 and began working with leaders like Cheyur Ramaswamy Ramakrishnan (former Joint Managing Director, L&T), A Ramakrishna (former President & Deputy Managing Director, L&T) and K V Rangaswami (former President, ECC).
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