BENGALURU/MUMBAI (Reuters) - Shares of Larsen & Toubro Infotech Ltd, India's sixth-biggest software services exporter, fell on market debut on Thursday amid concerns about the sector's outlook.
As of 11:48 a.m IST, L&T Infotech shares were trading at 706.50 rupees, down 0.5 percent from the issue price of 710 rupees.
The company's IPO, in which the parent engineering services provider Larsen & Toubro sold part of its stake, had raised about 12.36 billion rupees ($183.8 million).
The IPO had been subscribed more than 11 times.
($1 = 67.2400 Indian rupees)
(Reporting by Tanvi Mehta and Manoj Rawal; Writing by Devidutta Tripathy; Editing by Sherry Jacob-Phillips)