L&T Info to delay IPO on U.S. recession
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Mumbai: If the U.S. economy continues to be on the downward curve, next to take the brunt will be L&T Infotech, the information technology arm of Larsen & Toubro, by delaying its initial public offer (IPO), said Vijay K Magapu, Chief Executive. "We are in the IPO zone, but we have to watch for new developments, U.S. recession," Magapu said. Earlier, the company had said it aims to raise $300 million (Rs 1,200 crore) through an IPO. However, today Magapu said, "We have no pressing reason to go for an IPO now." L&T Infotech sees 40 to 45 percent revenue growth for 2007-08 (April-March).

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