L&T Technology Services in focus on debut

Shares of L&T Technology Services will debut on bourses today, 23 September 2016. The initial public offer (IPO) of L&T Technology Services received bids for 1.83 crore shares, as per the data on the National Stock Exchange of India (NSE) website. The IPO was subscribed 2.53 times. The initial public offer (IPO) of L&T Technology Services had opened for bidding on 12 September 2016 and closed on 15 September 2016. The company has issued shares at Rs 860 per share, the top end of the Rs 850 to Rs 860 per share price band for the IPO. The qualified institutional buyers (QIBs) category was subscribed 5.01 times. The non-institutional investors category was subscribed 1.03 times. The retail individual investors (RIIs) category was subscribed 1.75 times.

Bharat Heavy Electricals (Bhel)'s chairman & managing director, Atul Sobti, said that in spite of financial year ended March 2016 (FY 2016) being an extremely challenging year, the company recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in FY 2016, ending the year with significant traction in growth drivers.

Addressing shareholders at the 52nd annual general meeting of the company, Mr. Sobti said that enhanced focus on project execution has resulted in Bhel creating history by way of commissioning/synchronizing an all-time high 15,059 megawatts (MW) of power generating equipment during the year. Despite intense competitive pressure in the power and capital goods markets during the year, Bhel achieved the highest order booking in the last five years, at Rs 43727 crore, a 42% leap over 2014-2015. The company ended the year with a total order book of Rs 110730 crore for execution in 2016-2017 and beyond. The announcement was made after market hours yesterday, 22 September 2016.

Shriram Transport Finance Company said that a committee of the company allotted 1,300 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 130 crore on private placement basis. The NCDs have a tenure of three years from the date of allotment. The NCDs carry a coupon rate of 8.25 per annum. The announcement was made after market hours yesterday, 22 September 2016.

Majesco announced that it has entered into an agreement with Glemham, a UK based managing general agent (MGA), to create a new cloud based bureau processing business using Majesco CloudInsurer to reduce the cost of transacting General Insurance in the UK market. Majesco CloudInsurer platform will be used to initially provide commercial lines insurance to both the broker and the small medium enterprise (SME) markets. The announcement was made after market hours yesterday, 22 September 2016.

Gallantt Ispat said that a meeting of the board of directors of the company will be held on 29 September 2016, to consider and approve the disposal of two subsidiaries - Shree Surabhi Wheat Products and Shree Surabhi Flour Mills. The announcement was made after market hours yesterday, 22 September 2016.

Speciality Restaurants said it has opened new Sigree franchise restaurant at Nagpur. The announcement was made after market hours yesterday, 22 September 2016.

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