L&T Infotech, Mindtree extend fall ahead of merger, down up to 7% in 3 days

The board of directors of LTI and Mindtree fixed November 24, 2022 as the 'Record Date' for the purpose of determining eligibility of Mindtree shareholders to get shares of the amalgamated company.

Shares of L&T Infotech (LTI) and Mindtree were down 3 per cent each on the BSE in Thursday’s intra-day trade, extending their fall in the past two trading sessions after the companies fixed November 24, 2022 as the record date for determining eligibility of the shareholders for allotment of merger entitiy shares. Mindtree will turn ex-date for amalgamation on November 23, 2022.

Shares of Mindtree traded 3 per cent lower at Rs 3,518, down 7 per cent in past three trading days, while LTI down 3 per cent at Rs 4,902.85, has slipped 5 per cent during the period.