Comments
L&T Technology Services Ltd (LTTS) has finalised the allocation of 31.20 lakh shares to anchor investors at Rs 860 per equity share at the upper end of the price band, totalling Rs 268.32 crore.
The company will be allotting 9.31 per cent to Sundaram Mutual Fund, 7.08 per cent to DSP Blackrock Focus 25 Fund, 6.71 per cent to FIL Investments (Mauritius) Ltd, 6.71 per cent to Blackrock India Equities (Mauritius) Ltd and 6.71 per cent to Parvest Equity World Emerging, it said in a statement.
It has also allotted shares to anchor investors such as JP Morgan Funds (4.84 per cent), JP Morgan India Smaller Companies Fund (1.86 per cent), Oaktree Emerging Markets Mauritius Holdings Ltd (2.34 per cent), Vanguard Emerging Markets Select Stock Fund (2.36 per cent), National Pension Service managed by Oaktree Capital Management LP (6.11 per cent) and HDFC Trustee Company Ltd (7.08 per cent).
The other investors are ICICI Prudential Life Insurance Company Ltd (6.98 per cent), Canara Robeco Mutual Fund (7.08 per cent), Tata Mutual Fund (4.66 per cent), Integrated Core Strategies Asia Pte Ltd (2.67 per cent), Indus India Fund (Mauritius) Ltd (2.67 per cent), Copthall Mauritius Investment Ltd (7.83 per cent), Macquarie Emerging Markets Asian Trading Pte Ltd (1.87 per cent) and Morgan Stanley Company Ltd (5.13 per cent).
L&T Technology Services, a wholly-owned subsidiary of engineering major Larsen & Toubro, plans to raise Rs. 884-894 crore from the primary market by offloading 10.2 per cent of the parent’s equity.
The company is putting 1.04 crore shares on the block at a price band of Rs. 850-860 per equity share of face value of Rs. 2. The IPO will be open from September 12-15.
The minimum bid lot is 16 shares and thereafter in multiples of 16. The shares will be listed on the BSE and NSE. Kotak Mahindra Capital, Bank of America - Merrill Lynch, JM Financial and SBI Capital Markets are the book running lead managers to the issue.
L&T Technology Services is a pure-play engineering services company.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.