L&T Infotech mulls reviving IPO plans

IT solutions and services provider, L&T Infotech, today said it has started thinking about reviving plans for its initial public offer, but gave no time-frame for it.

"We have started thinking about it (IPO) once again, but I cannot give you a date (for the IPO)," L&T Infotech's CEO Sudip Banerjee told reporters on the sidelines of the NASSCOM India Leadership Forum 2010, here.

The company had earlier planned to hit the capital market in 2008, however, it shelved the plan indefinitely due to volatile market conditions. The global financial crisis deepened after the fall of the then financial services major Lehman Brothers in September 2008.

Banerjee also said that the firm would focus on strengthening its business in India more than in foreign markets.

The company is bidding for all kinds of projects in both the public and private sector, he said.

"These are typically deals in the range of Rs 5-25 crore. We are bidding for all kinds of projects in railways, power and education," Banerjee said.

The company is also actively looking at acquisitions, he said.

L&T Infotech is betting big on business from the BFSI segment in markets such as South Africa and the Middle-East.

"In South Africa, we have tied-up with some financial service providers we will be expanding and adding up more financial services customers," he said.

Asked about pricing, Banerjee said that it (pricing) has stabilised to some extent.