L&T SEMICONDUCTOR EYES IPO AFTER HITTING $500M REVENUE MILESTONE: REPORT

Mumbai, Sept. 2 -- L&T Semiconductor will consider going public only after crossing $500 million (around Rs.4,400 crore) in revenue, chief executive Sandeep Kumar told Financial Express. While he did not specify a timeline, he said the milestone "is expected to take a while."

The semiconductor arm of Larsen & Toubro, now nearing two years of operations, is pursuing a fabless model with no immediate plans to set up fabrication (fab) or outsourced semiconductor assembly and test (OSAT) facilities.

Instead, it is prioritising product development, customer acquisition, and selective acquisitions.

Kumar highlighted strong demand in industrial and automotive applications, which have longer development cycles, and noted an entry into the energy sector through silicon carbide technology. More recently, the company has begun building a presence in telecom.

The company has invested $100 million in R&D out of a $300 million commitment.

While it was not eligible for the government's first Design Linked Incentive (DLI) scheme-restricted to startups-it plans to apply in the next phase if eligibility expands.

Kumar said the semiconductor business aligns with L&T Group's strategy to diversify into advanced technologies beyond its traditional engineering and infrastructure base.

2025-09-02T16:17:52Z