LTIMindtree

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LTM Limited
FormerlyL&T Infotech Limited (2001–2022)
LTIMindtree Limited (2022–2026)
Company type
Public
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Headquarters
L&T House, Ballard Estate, Mumbai
,
India
Area served
Worldwide
Key people
S. N. Subrahmanyan
(Non-Executive Chairman)
Venu Lambu
(CEO and Managing Director)
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Total equityIncrease ₹22,711 crore (US$2.4 billion) (2025)
Number of employees
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ParentLarsen & Toubro (68.73%)
Websitewww.ltm.com
Footnotes / references
Financials as of 31 March 2025.[1]

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LTM Limited (formerly LTIMindtree Limited) is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 81,000 people.[4]

History

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File:Mt Front, Mindtree Chennai (2014).jpg
Ramanujan IT City, Chennai
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Global Headquarters Powai, Mumbai
File:Sattva Global City, Rajarajeshwari Nagar, Bangalore (2024) 75.jpg
Sattva Global City, Bangalore
LTM campuses

The company was founded as L&T Information Technology Ltd in December 1996 as a subsidiary of Larsen & Toubro.[5] During 2001–2002, the company's name was changed from L&T Information Technology Ltd. to L&T Infotech Ltd., and in the same year, the company achieved the assessed level of the Software Engineering Institute's (SEI) Maturity Level 5.[6][7]

Between 2009 and 2012, parent Larsen & Toubro sought to scale up L&T Infotech by making a series of acquisition attempts, for Satyam Computer Services, Patni Computer Systems and Hexaware Technologies, all three of which proved to be unsuccessful.[8][9]

In 2013–14, L&T Infotech's engineering services segment was acquired by parent Larsen & Toubro's newly created technology and engineering services subsidiary called L&T Technology Services.[10][11]

In July 2016, L&T Infotech went public via an initial public offering (IPO) of ₹1,243 crore (Template:INRConvert/HistoricalRate/Formatted).[12]

Between 2016 and 2017, L&T Infotech had contracts with the Income Tax Department and Central Board of Direct Taxes to detect income tax evasion using profiling, data models and social media analytics.[13][14]

The company rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.[15]

Mindtree merger

In June 2019, Larsen & Toubro completed its hostile takeover of Bengaluru-based company Mindtree, despite opposition from the latter's promoters.[16]

In May 2022, it was announced that Mindtree, which was then a different IT services subsidiary of Larsen & Toubro, will be merged into LTI,[17] and the company will be renamed as LTIMindtree.[17][18] Larsen & Toubro Group chairman A. M. Naik commented that there was not much overlap between the two companies in terms of industries and clientele; LTI had a plurality in BFSI industry and was active in the oil and gas sector, while Mindtree had a plurality in technology, media and telecommunications (TMT) with a presence in travel and hospitality.[19]

The merger was completed in November 2022. Subsequent to Merger, company changed name to LTIMindtree, becoming India's fifth largest provider of IT services by market capitalization and sixth largest by revenue. Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity.[20]

In February 2026, LTIMindtree Limited announced that it would change its name to LTM Limited.[21][22]

Acquisitions

Company acquired Country Date Business Reference
Citigroup Fund Services Canada Template:Flagicon Canada February 2011 IT consulting [23]
Information Systems Resource Centre (ISRC) Template:Flagicon India October 2014 IT services [24]
AugmentIQ Data Sciences Template:Flagicon India October 2016 Big data, data analytics [25]
Syncordis Template:Flagicon Luxembourg November 2017 Core banking technology [26]
Ruletronics Template:Flagicon India January 2019 Business process management [27]
Nielsen+Partner Template:Flagicon Germany February 2019 IT consulting [28]
Lymbyc Template:Flagicon India July 2019 AI, machine learning [29]
Powerupcloud Technologies Template:Flagicon India October 2019 Cloud computing [30]
Cuelogic Technologies Template:Flagicon India July 2021 Digital engineering [31]
Mindtree Template:Flagicon India May 2022 IT services [32]

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See also

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References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."Financial Results For Q4 FY25" (PDF). BSE. LTIMindtree. Retrieved 23 April 2025.
  2. ^ Page Module:Citation/CS1/styles.css has no content."Larsen & Toubro Infotech Limited: Private Company Information – BusinessWeek". Investing.businessweek.com. Archived from the original on 9 December 2008. Retrieved 11 July 2012.
  3. ^ Page Module:Citation/CS1/styles.css has no content."LTIMindtree reports 1.2% Y-o-Y decline in net profit". Techcircle. 24 April 2024. Retrieved 24 April 2024.
  4. ^ Page Module:Citation/CS1/styles.css has no content.Phadnis, Shilpa; Mani, Veena. "LTIMindtree aspires to be $10bn in revenue: CEO". The Times of India. Retrieved 9 December 2022.
  5. ^ Page Module:Citation/CS1/styles.css has no content."Sanjay Jalona CEO & MD of LTI". lntinfotech.com. L&T Infotech. 12 August 2015. Retrieved 8 February 2016.
  6. ^ Page Module:Citation/CS1/styles.css has no content."expresscomputeronline". 1 April 2002. Archived from the original on 4 September 2004. Retrieved 25 November 2012.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Larsen & Toubro Infotech Ltd". Retrieved 16 April 2019 – via Business Standard.
  8. ^ Page Module:Citation/CS1/styles.css has no content.Sanjai, P R.; Khan, Zahra (14 October 2013). "L&T Infotech plans to enter new markets, make acquisitions". Mint. Retrieved 26 April 2024.
  9. ^ Page Module:Citation/CS1/styles.css has no content.Barman, Arijit; Shinde, Shivani (7 March 2012). "Now, L&T jumps into Hexaware race to reboot Infotech". Business Standard. Retrieved 26 April 2024.
  10. ^ Page Module:Citation/CS1/styles.css has no content."L&T to set up new arm L&T Technology Services". The Economic Times. Retrieved 14 October 2022.
  11. ^ Page Module:Citation/CS1/styles.css has no content.Sanjai, P. R. (15 July 2016). "L&T to sell 15% stake in L&T Technology Services via IPO". mint. Retrieved 14 October 2022.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Shah, Ami (21 July 2016). "L&T Infotech falls 1.74% on debut; first IPO to list at a discount in 4 months". mint. Retrieved 14 October 2022.
  13. ^ Page Module:Citation/CS1/styles.css has no content.Seth, Dilasha (18 July 2016). "L&T Infotech bags contract for Project Insight". Business Standard. Retrieved 30 July 2024.
  14. ^ Page Module:Citation/CS1/styles.css has no content."L&T Infotech gets $100 million project from CBDT to help pin down tax evaders". Mint. 1 October 2017. Retrieved 30 July 2024.
  15. ^ Page Module:Citation/CS1/styles.css has no content."L&T Infotech rebrands itself as LTI in keeping with new business reality". Moneycontrol. 4 May 2017. Retrieved 16 April 2019.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Laskar, Anirudh (26 June 2019). "With 60% stake, L&T completes its hostile takeover of Mindtree". mint. Retrieved 17 August 2023.
  17. ^ a b Page Module:Citation/CS1/styles.css has no content.Press Trust of India (19 June 2022). "L&T Infotech-Mindtree merger likely by December, says LTI COO". Business Standard India. Retrieved 7 July 2022.
  18. ^ Page Module:Citation/CS1/styles.css has no content."LTIMindtree to have fifth largest BFSI portfolio". The Times of India. 9 May 2022.
  19. ^ Page Module:Citation/CS1/styles.css has no content."LTIMindtree begins life in the big league". 15 November 2022.
  20. ^ Page Module:Citation/CS1/styles.css has no content."Merged entity. LTI-Mindtree merger takes effect; latter to delist from bourses on Nov 24". 14 November 2022.
  21. ^ Page Module:Citation/CS1/styles.css has no content.Shinde, Shivani (11 February 2026). "LTIMindtree unveils new identity, to be renamed LTM Limited; board approves". Business Standard. Retrieved 21 February 2026.
  22. ^ Page Module:Citation/CS1/styles.css has no content."BSEINDIA". www.bseindia.com. Retrieved 17 March 2026.
  23. ^ Page Module:Citation/CS1/styles.css has no content."L&T Infotech acquires Citigroup's Canadian IT unit". Business Standard. February 2011. Retrieved 25 January 2013.
  24. ^ Page Module:Citation/CS1/styles.css has no content."L&T Infotech buys Otis Elevator's Information Systems Resource Centre". The Hindu Business Line. 28 October 2014. Retrieved 28 October 2014.
  25. ^ Page Module:Citation/CS1/styles.css has no content."L&T Infotech to acquire analytics start-up AugmentIQ". Mint. 25 October 2016. Retrieved 25 October 2016.
  26. ^ Page Module:Citation/CS1/styles.css has no content."Larsen & Toubro Infotech to acquire Syncordis SA". The Economic Times. 14 November 2017. Retrieved 14 November 2017.
  27. ^ Page Module:Citation/CS1/styles.css has no content."Larsen & Toubro Infotech acquires Ruletronics for $7.48 million". The Economic Times. 17 January 2019. Retrieved 17 January 2019.
  28. ^ Page Module:Citation/CS1/styles.css has no content."LTI to acquire Germany's Nielsen+Partner in a $31.6M deal". The Economic Times. 14 February 2019. Retrieved 14 February 2019.
  29. ^ Page Module:Citation/CS1/styles.css has no content."LTI to acquire advanced analytics firm Lymbyc". The Economic Times. 17 July 2019. Retrieved 17 July 2019.
  30. ^ Page Module:Citation/CS1/styles.css has no content."Larsen & Toubro Infotech to acquire PowerupCloud". The Hindu. 17 October 2019. Retrieved 17 October 2019.
  31. ^ Page Module:Citation/CS1/styles.css has no content."LTI concludes acquisition of Pune-Based Cuelogic". Business Standard. 8 July 2021. Retrieved 8 July 2021.
  32. ^ Page Module:Citation/CS1/styles.css has no content.Mudgill, Amit. "L&T Infotech announces merger with Mindtree". The Economic Times. Retrieved 9 May 2022.
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