L&T Strengthens Commitment to Quality with IFQM Stake Acquisition

Larsen & Toubro (L&T) has acquired a 12.25% stake in the Indian Foundation for Quality Management (IFQM) by purchasing 12.25 crore equity shares for Rs 12.5 crore. This move emphasizes L&T's dedication to enhancing Brand India through continuous quality improvements in products and services.

Larsen & Toubro (L&T) announced on Friday its acquisition of a 12.25% stake in the Indian Foundation for Quality Management (IFQM) by purchasing 12.25 crore equity shares. The investment, worth Rs 12.5 crore, underscores L&T's commitment to enhancing Brand India by focusing on quality improvements in diverse sectors.

The company stated that this strategic acquisition aligns with its goal of promoting superior management practices and quality standards in Indian organizations. L&T, a USD 27 billion Indian multinational, is renowned for its work in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing, and services globally.

By integrating quality values and practices in management, IFQM aims to empower Indian organizations. L&T's involvement further bolsters its mission to support and encourage quality initiatives across various domains.

(With inputs from agencies.)