 "L&T Tech raises Rs 268 cr from 13 anchor investors")
L&T Technology Services has allotted 3.12 million shares at Rs 850 apiece to 13 anchor investors to raise Rs 268 crore. The L&T group firm's initial public offering opens on Monday. The anchor investors include ICICI Pru Life Insurance Company, HDFC Trustee Company, BlackRock India Equities (Mauritius) Ltd, JP Morgan Funds, and Sundaram Mutual Funds. L&T Tech's Rs 890-crore IPO will close on September 15. The price band has been fixed at Rs 850-860 a share.
The entire issue is an offer for sale by promoter Larsen & Tourbo, which is looking to offload its 10.2 per cent stake. L&T Tech, engaged in providing research and solutions in the field of engineering, will be valued at roughly Rs 9,000 crore
The issue is being handled by Kotak Mahindra Bank, Bank of America Merrill Lynch, JM Financial and SBI Capital Markets. L&T Tech is the second IPO from the L&T group in as many months.
The entire issue is an offer for sale by promoter Larsen & Tourbo, which is looking to offload its 10.2 per cent stake. L&T Tech, engaged in providing research and solutions in the field of engineering, will be valued at roughly Rs 9,000 crore
The issue is being handled by Kotak Mahindra Bank, Bank of America Merrill Lynch, JM Financial and SBI Capital Markets. L&T Tech is the second IPO from the L&T group in as many months.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%