L&T Tech's IPO to hit the markets on September 12

L&T Technology, is all gearing to get listed on the bourses. Company’s IPO will open for subscription on September 12 and will close on September 15. Company plans to raise around Rs 900 crores, and has fixed a price band of Rs 850 - 860 per share. The objective of the company to get listed is to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the sale of up to 10,400,000 equity shares.

Earlier, in July this year, L&T Infotech got listed on the bourses, and the total size of the issue was Rs 1243 crores which was oversubscribed 11.69 times the issue price. However, on the listing day, it listed at a discount to the band price.

This will be the second IPO of L&T Group and it will be interesting to see the outcome of the issue. Meanwhile incorporated in 2012, L&T Technology Services Ltd., is a Mumbai based third-party ER&D (Engineering, Research and Development) service provider.

L&T Tech provides services to manufacturing, technology and process engineering companies to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.