Complex sentence: Originally founded as L&T Information Technology Ltd (Read as L&T-IT), a wholly owned subsidiary of Larsen & Toubro Ltd (L&T), the company changed its name to L&T Infotech on 1st April, 1997.
Split into simpler sentences: Originally founded as L&T Information Technology Ltd (Read as L&T-IT), a wholly owned subsidiary of Larsen & Toubro Ltd (L&T),. The company changed its name to L&T Infotech on 1st April, 1997.