L&T InfoTech

L&T InfoTech's Rs 1,243-crore IPO got oversubscribed 11.67 times

today, eliciting strong response with the number of applications
crossing 1 million on the final day.
The IPO received bids for 14,29,46,840 shares against the total
issue size of 1,22,50,000 shares, data available with the NSE till
1930 hrs showed.
Quota reserved for qualified institutional buyers (QIBs) was
oversubscribed 19.90 times, while that of HNI 10.75 times,
sources said.
The category reserved for retail investors was also
oversubscribed 7.30 times.
L&T Infotech has attracted 10.58 lakh or 1.058 million
applications, the largest number applications in IPOs since 2011

Anchor Investors -AnAnchor

Investorshall make an application
of a value of at least Rs. 10 crore in
the public issue.

L&T Infotech had fixed a price band of Rs 705-710 per share

for the offering.
L&T Infotech had on Friday raised Rs 373 crore from anchor
investors by selling shares at Rs 710 apiece.
The IPO comprises an offer-for-sale of up to 1.75 crore
equity shares by L&T Ltd. It constitutes 10.3 per cent of the
post offer paid-up equity share capital of the company.
At the upper end of the price band, the offer would be worth
Rs 1,243.50 crore. The sale would rake in Rs 1,233.75 crore
at Rs 705 per share.
Kotak Mahindra Capital Company, Citigroup Global Markets
India and ICICI Securities are managing the issue.
In the financial year 2015-16, L&T Infotech's revenue from
operations and other income stood at Rs 6,143.02 crore,

L&T Infotech is the sixth largest Indian IT

services player at present with a
revenue of USD 887 million and an
employee base of over 20,000 people.
Earlier this month, the Rs 400-crore
IPO of staffing firm Quess Corp was
oversubscribed a staggering 145
times, emerging as the most
oversubscribed IPO in the past 9
years.