LTIMindtree, a prominent player in the IT sector, has announced the incorporation of a wholly-owned subsidiary, LTIMindtree Consulting Brazil Ltda., with a share capital of R$3.9 million.
The subsidiary will provide IT consulting and digital solutions, marking a strategic expansion into the Brazilian market. This move aligns with the company’s broader vision to establish a stronger foothold in the global IT and IT-enabled services industry.
The share capital of the newly formed subsidiary is R$3,900,000, divided into 3,900,000 quotas, each valued at R$1. Upon incorporation, LTIMindtree Consulting Brazil Ltda. has become a related party to LTIMindtree. However, there is no additional interest from the promoter group in this transaction. The subsidiary’s main objective is to deliver comprehensive IT consulting, digital solutions, outsourcing support, and other allied services to customers.
The formation of the company has been completed following registration with the Commercial Registry of São Paulo, effective from September 26, 2024.
As of 10:46 am, LTIMindtree shares were trading 0.52% higher at ₹6,196.00 on the NSE.
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