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Engineering major L&T informed the BSE on Friday that for the proposed IPO of the company's subsidiary L&T Technology Services the price band has been fixed at ₹850-860 a share. The offer by engineering research and development (ER&D) services company will be opened for subscription between September 12 and 15. This is an offer-for-sale by its parent company L&T, which will dilute its 10 per cent shareholding in the company. In July, another group company L&T Infotech, the software solutions provider, raised about ₹1,200 crore through a public issue.
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