L&T; Infotech fixes IPO price band at Rs 705 710
L&T; Infotech has priced its initial public offering (IPO) in a band of Rs 705 - Rs 710 per share. The IPO includes an offer for sale (OFS) of more than 1.75 crore shares by the existing promoter, Larsen & Toubro, and the company hopes to raise R1,242.5 crore, at the upper end of the price band, from the issue.
L&T; hits 8-month high ahead of L&T; Infotech's IPO announcement
The stock touched a high of Rs1,569.10 a share, a level last seen on 23 October 2015, and gained as much as 1.8% L&T; Infotech says looking at making strategic acquisitions in continental Europe
The IT arm of the engineering major also plans to expand its reach in other such as Australia, Singapore, Japan, South Africa, India and the Middle East.
L&T; Infotech to launch IPO on 11 July at Rs705-710 per share
At the upper end of the price band, the IPO size would be `1,242.5 crore; the company is offering a discount of `10 for retail investors