Larsen & Toubro Limited will hold 68.73 per cent of LTI after the merger. "This merger represents our continued commitment to grow the IT services business in line with our strategic vision. The highly complementary businesses of Mindtree and LTI will make this integration a 'win-win' proposition for our customers, investors, shareholders, and employees," said A M Naik, Chairman, Larsen & Toubro Group. For now, the companies will continue to function independently. A Steering Committee will be constituted to oversee the transition till the merger process is complete, the company statement said.