L&T Tech subscribed 18% on Day One

The Rs 890-crore initial public offering (IPO) of shares of L&T Technology Services was subscribed 18 per cent on day one. The retail (small investor) portion of the IPO was subscribed 19 per cent, while the institutional (big money) investor segment was covered 27 per cent, data provided by stock exchanges showed. The Larsen & Toubro group firm on Friday had raised Rs 268 crore from anchor investors (or underwriters) by allotting them 3.12 million shares at Rs 850 apiece. L&T Technology Services's initial public offering of shares will remain open till Thursday.