‘Mindtree is independent’: L&T tells shareholders after shares plunge

After Mindtree lost close to a quarter of its market capitalisation in two trading sessions, Larsen & Toubro (L&T) on Monday tried to calm the frayed nerves of the company’s shareholders and employees, apart from its customers.

S N Subrahmanyan, chief executive officer (CEO) and managing director (MD) of the Mumbai-headquartered conglomerate, said that Mindtree would continue to run as an independent entity and there would be no alteration of positions at the Bengaluru-headquartered information technology (IT) services firm.

“Mindtree will be run as a separate entity, distinct from L&T Infotech and L&T Technology Services. The entities would be run at an arm’s length and it is inappropriate to speculate about the future structure now,” Subrahmanyan said in an email reply to Business Standard.