New Delhi : Engineering and construction giant Larsen & Toubro said its IT services unit, L&T Infotech, has filed draft papers with regulator Sebi to go public. “Larsen & Toubro Infotech Limited, a subsidiary of Larsen & Toubro Limited, has filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on September 28, 2015 in order to undertake an initial public offering of its equity shares,” it said in a BSE filing.
The issue comprises of an offer for sale of up to 1,75,00,000 equity shares of the face value Rs 1 each by Larsen & Toubro, it added. In June this year, L&T had said it will list its IT services unit L&T Infotech by year-end. Media reports earlier this year had pegged the valuation of the information technology company at around $3 bln.
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