L&T Infotech is all set to launch their Initial Public Offering today, on Monday, 11 July 2016. Larsen & Turbo Infotech is India’s 6th largest IT service firm by revenue. L&T Infotech has employees of over 20000 people all over India. L&T infotech IPO issue will be closed on 13 July 2016, Wednesday.
L&T is listed in BSE and NSE. L&T Finance is listed in BSE and NSE over 5 years ago which has market cap of about Rs 14000 Crore. L&T Infotech raised Rs 372.75 crore by allotting 52.50 lakh shares to 22 anchor investors at a price of Rs 710 per share on the last day of market in last week, on 8th July 2016.
L&T Infotech IPO is launched with an objective to improve brand value and provide liquidity to existing shareholders. L&T Infotech IPO price band is fixed at Rs 705 to Rs 710 per share.
“We are looking at the European and US markets predominantly as the acquisition has to cater to that market by selling to our 250-plus customers. We will also look at Indian companies that serve customers in the US and Europe,” Sanjay Jalona, CEO and MD of L&T Infotech.
Larsen & Turbo Infotech IPO Details:
Issue Open Date: Jul 11, 2016
Issue Close Date: Jul 13, 2016
Listing At: BSE, NSE
Issue Price: Rs. 705 – Rs. 710 Per Equity Share
Issue Type: Book Built Issue IPO
Face Value: Rs 1 Per Equity Share
Minimum Order Quantity: 20 Shares
Issue Size: 17,500,000 Equity Shares of Rs 1 aggregating up to Rs 1,400.00 Cr
Fresh Issue of 0 Equity Shares of Rs 1 aggregating up to Rs [.] Cr
Offer for Sale of 17,500,000 Equity Shares of Rs 1 aggregating up to Rs [.] Cr
Looking at the Revenue of L&T Infotech, In financial year 2015-16, L&T Infotech’s revenue from operations and other income was Rs 6,143.02 crore and net profit was Rs 922.17 Crore.
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