Shares of the combined entity L&T Infotech and Mindtree — LTIMindtree — commenced trading on Monday. As per the merger proposal, shareholders of erstwhile Mindtree were allotted 73 shares of LTI for every 100 shares. The parent company, L&T, holds 68.73 per cent of LTIMindtree.
Shares of Mindtree were de-listed from November 23.
The stock on Monday closed 1.84 per cent lower at ₹4,974.50 on the BSE as against Friday’s closing price of ₹5,068. During the day, the stock hit a high of ₹5,120.40 and a low of ₹4,963.
Formal existence
LTIMindtree came into formal existence on November 14, through the merger of erstwhile Larsen and Toubro Infotech (LTI) and Mindtree under the Larsen & Toubro (L&T) Group.
A scaled-up IT services provider with a client portfolio of more than 750 global enterprises and nearly 90,000 professionals in over 30 countries across five continents, LTIMindtree at ₹1.47-lakh crore is the fifth largest IT services company by market capitalisation behind TCS (₹12.53-lakh crore), Infosys (₹6.90 lakh crore), HCL Technologies (₹3.06-lakh crore) and Wipro (₹2.26-lakh crore).