Mindtree & L&T Infotech's US$18bn Merger: Details and Index Implications

Event-Driven

374 Views, 08 May 2022 16:05

EXECUTIVE SUMMARY

The Larsen & Toubro Infotech (LTI IN) and Mindtree Ltd (MTCL IN) merger will create a company with revenue of US$3.5bn and a market cap of US$18bn.
The merger ratio is 73 shares of Larsen & Toubro Infotech for 100 shares of Mindtree. The merger is expected to complete in 9-12 months.
There are likely to be some inflows from MSCI and FTSE trackers but the big kicker will be inclusion in the NIFTY Index - but a (smallish) rally is needed.

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