Wednesday, June 29, 2016

L&T Infotech IPO offers Rs 10 discount to retail investors

L&T Infotech Ltd is entering in the capital markets with an initial public offering (IPO) to carry out the sale of up to 17,500,000 equity shares by the selling shareholder (L&T Limited). The price band for the issue has been fixed at Rs 705 at lower level and Rs 710 at upper level. L&T Infotech offers discount of Rs 10 to all eligible retail individual bidders.

Incorporated in 1996, Larsen & Toubro Infotech, a subsidiary of Larsen & Toubro Ltd is Mumbai, India based IT Solutions & Services Company. L&T Infotech is ranked 6th largest IT company in India in terms of export revenues and among top 20 IT service provider in the world.

The issue opens on Jul 11, 2016 and closes for subscription on Jul 13, 2016. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).