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L&T Technology Services to hit capital markets to raise Rs 894.40 crore

07 Sep 2016 Evaluate

L&T Technology Services is coming out with a 100% book building; initial public offering (IPO) of 10,400,000 shares of Rs 2 each in a price band Rs 850-860 per equity share. The issue will open for subscription on September 12, 2016 and will close on September 15, 2016.

The objects of the offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and to carry out the sale of up to 10,400,000 Equity Shares by the Selling Shareholder. The listing of the Equity Shares will enhance the company’s brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for the Equity Shares in India. The company will not receive any proceeds from the Offer.

The book running lead managers to the issue are Kotak Mahindra Capital Company, DSP Merrill Lynch, JM Financial Institutional Securities and SBI Capital Markets, while the compliance officer for the issue is Kapil Bhalla.

Incorporated in 2012, L&T Technology Services is Mumbai based third-party ER&D (Engineering, Research and Development) service provider. The company provides services to manufacturing, technology and process engineering companies to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

L&T Technology Serv. Share Price

3625.70 68.00 (1.91%)
30-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2473.50
Infosys 1181.50
HCL Tech. 1198.95
Wipro 200.65
Tech Mahindra 1474.05
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