L&T Technology IPO opens on Sept 12: 10 things to
know
L&T Technology Services is subsidiary of
engineering & construction major L&T.
Second public issue from the L&T group will be open for subscription on September 12 and will close on September 15. Priced at Rs 850-860 per share, L&T Technology Services aims to raise Rs 894.4 crore.
The company on Friday 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.
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L&T Technology Services through its IPO will be offering to sell 10.4 million shares. The offer is bifurcated into QIB portion of 5.2 million shares, non institutional portion of 1.56 million shares and retail portion of 3.64 million shares. The proceeds from the IPO would not accrue to the company, but would go to the promoter shareholders.
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