Another 1.05 million shares meant for retail investors will be auctioned on Tuesday.
In a regulatory filing L&T Infotech on Friday said its promoter Larsen & Toubro Ltd (L&T) proposes to sell its stake in the company.
L&T proposed to sell up to 5.9 million equity shares representing 3.41% of the total paid up equity share capital of L&T Infotech, with an oversubscription of 4.63 million equity shares representing 2.67% through stock market route on Monday and Tuesday. The floor price of the offer will be Rs 1,700 per equity share of the company.
At 10:54 am; L&T Infotech was trading 5.4% higher at Rs 1,867 on the BSE in an otherwise subdued market. The benchmark S&P BSE Sensex was trading 0.41% lower at 38,271 points. The trading volumes on the counter jumped more than six-fold with a combined 2.36 million equity shares changed hands on the BSE and NSE so far.