Five prerequisites for subscribing to L&T Tech's IPO
DSIJ Intelligence / 12 Sep 2016
L&T Technology, a subsidiary of construction major L&T is all set and ready for subscription. Company which plans to raise around Rs 900 crores, will open for subscription on September 12 and has fixed a price band of Rs 850 - 860 per share. Here are the 5 things which an investor should keep in mind before subscribing.
L&T Technology, a subsidiary of construction major L&T is all set and ready for subscription. Company which plans to raise around Rs 900 crores, will open for subscription on September 12 and has fixed a price band of Rs 850 - 860 per share. Here are the 5 things which an investor should keep in mind before subscribing.
#1 This is the second IPO of L&T Group; the first L&T Infotech IPO was listed at a discount of 6 per cent to the Issue price.
#2 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.
#3 Incorporated in 2012, L&T Technology Services Ltd., is a Mumbai based third-party ER&D (Engineering, Research and Development) service provider.
#4 The company till September 9 has already raised over Rs 268 crore from 19 anchor investors by selling shares at a price of Rs 860 ahead of its initial share sale.
#5 L&T ‘s stake in the company will be reduced by 89.9 per cent after the IPO. The issue will close on September 15.
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