MUMBAI (Reuters) - An initial public offering (IPO) of shares in L&T Technology Services, which sources say aims to raise as much as $134 million, will open for subscription on September 12, according to a filing by parent Larsen & Toubro on Thursday.
Larsen, which is selling up to 10.4 million shares in L&T Technology Services, will sell the shares in a price range of 850 rupees to 860 rupees apiece, potentially raising as much as 8.94 billion rupees ($134 million), two sources with direct knowledge said.
The sale will amount to about a tenth of the post-offer equity capital of the company, the sources, who declined to be named, said.
The IPO will close on Sept. 15, Larsen said in a stock exchange filing.
($1 = 66.7811 Indian rupees)
(Reporting by Promit Mukherjee and Devidutta Tripathy; Editing by Mark Potter)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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