 "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.