The erstwhile L&T Integrated Engineering Services, carved out of parent L&T in 2010, was renamed L&T Technology Services in 2012. It later added that L&T Technology Services had filed its draft red herring prospectus with market regulator Sebi. The company (L&T) proposes to sell up to 15 per cent of the equity shares held in L&T Technology Services through the offer,'' L&T said in a filing with the stock exchanges today. Mumbai, July 15: Engineering and construction conglomerate Larsen & Toubro (L&T) today said it would sell up to 15 per cent in L&T Technology Services through an initial public offering (IPO). L&T Technology Services, which offers engineering and research and development services across sectors, has revenues of nearly $500 million.

Source: The Telegraph July 15, 2016 20:15 UTC