Larsen & Toubro to list L&T Infotech by Dec 2015: report

L&T says will sell 10% stake in the unit

Industrial conglomerate Larsen & Toubro Ltd will list its IT services unit L&T Infotech by December this year, Chairman AM Naik told CNBC TV18 on Tuesday.

The company, which has been looking to exit non-core businesses, will sell a 10% stake in the unit, Naik said in an interview to the business news channel.

L&T Infotech, with nine delivery centres, is expanding into new geographies even as it consolidates its client facing organisation in North America and Europe. 

Its clients include Chevron, Freescale, Hitachi, Sanyo and Lafarge, among others. 

L&T will also look at listing other businesses, including its hydrocarbons and transmission and distribution units over the next few years, Naik added.

The shares of the company were trading at Rs 1761.70, up 1.77% on the BSE at about 1300 hours.