Shares of Larsen & Toubro Infotech Monday fell by over 1 per cent after its promoter L&T proposed to offload stake in the company.
The scrip lost 1.39 per cent to end at Rs 1,771.20 on the BSE. During the day, it dropped 3.68 per cent to Rs 1,730.
On the NSE, shares of the company slipped 1.36 per cent to close at Rs 1,773.15.
In a regulatory filing Larsen & Toubro Infotech on Friday said its promoter Larsen & Toubro Ltd (L&T) proposes to sell its stake in the company.
L&T proposed to sell up to 59 lakh equity shares representing 3.41 per cent of the total paid up equity share capital of Larsen & Toubro Infotech, with an over subscription of 46.28 lakh equity shares representing 2.67 per cent through stock market route on Monday and Tuesday.
The floor price of the offer will be Rs 1,700 per equity share of the company.
For the quarter ended June, L&T had 14,03,11,322 shares amounting 81.54 per cent stake in L&T Infotech.
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