CURRENT AFFAIRS

Detailed explanation-1: -The merged entity LTIMindtree is now the fifth-largest IT services company in India in terms of current market capitalisation. As part of the merger, 73 shares of LTI will be granted to each shareholder of Mindtree for every 100 shares of Mindtree.

Detailed explanation-2: -The two companies had announced their intent to merge in May 2022. The merged entity will be known as LTIMindtree. The merged entity will become the fifth largest IT services company in India in terms of current market capitalization.

Detailed explanation-3: -The L&T Group has announced operationalisation of the merger of Mindtree with LTI (Larsen & Toubro Infotech), effective November 14. The new entity, LTI Mindtree, will begin trading from November 24.

Detailed explanation-4: -L&T Infotech and Mindtree have received merger approval and will begin operating as a merged entity on November 14, becoming the country’s fifth-largest IT provider by market capitalisation and sixth-largest by revenue. This is one of the largest mergers in the Indian information technology (IT) sector.

Detailed explanation-5: -Mindtree scored higher in 9 areas: Overall Rating, Culture & Values, Diversity & Inclusion, Work-life balance, Senior Management, Compensation & Benefits, Career Opportunities, Recommend to a friend and Positive Business Outlook. Both tied in 1 area: CEO Approval.