L&T Infotech’s public issue subscribed 4 times on last day

The IPO received 48.82 million bids against the issue size of 12.25 million shares.

Jul 13, 2016 11:07 IST India Infoline News Service

The initial public offering (IPO) of the engineering and construction major L&T’s tech-arm L&T Infotech started on a good note. The momentum has further picked up on the last day also with the issue subscribed 3.99 till 11:00 am, as per the data available with NSE.

The IPO received 48.82 million bids against the issue size of 12.25 million shares.

Category-wise, the issue oversubscribed 4.09 times in qualified institutional buyer (QIB) segment while the retail portion was oversubscribed 1.95 times.

The IPO is priced between Rs.705 and Rs.710 per share. Retail investors are being offered a discount of Rs.10 per share. At the top end of the price band, the IPO is worth Rs.1,236 crore and the company will be valued at around Rs 12,056 crore.

The entire issue is offer for sale by promoter Larsen & Tourbo.

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