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 of applications in IPOs since 2011, they added.
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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.
In the financial year 2015-16, L&T Infotech's revenue from operations and other income stood at Rs 6,143.02 crore, while it clocked a profit after tax of Rs 922.17 crore during the same period.
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.