The L&T Technology IPO is a book-built offering for Rs 894.40 crore. The offering consists fully of 1.04 crore shares for sale. Bidding for the L&T Technology IPO began on September 12, 2016 and finished on September 15, 2016. On Tuesday, September 20, 2016, the allotment for the L&T Technology IPO was completed. On September 23, 2016, the shares were listed on the BSE and NSE. The pricing range for L&T Technology’s IPO is set at 850 to 860 per share. An application requires a minimum lot size of 16 shares. Retail investors must make a minimum investment of $13,760.
L&T Technology Services Ltd., founded in 2012, is a third-party ER&D (engineering, research, and development) service provider situated in Mumbai, India. L&T Tech assists manufacturing, technology, and process engineering firms in developing and building products, processes, and infrastructure needed to deliver products and services to their end customers. Customers in North America and Europe account for 80.2% of L&T Tech’s revenue. The majority of its work is completed by staff situated in India’s delivery centers, using an offshore delivery model. This
gives L&T Tech a competitive advantage in terms of talent pool availability and reduced costs when compared to its competitors in the United States and Europe. The company operates 12 worldwide distribution centers in India and abroad, as well as 27 sales offices in India, North America, Europe, the Middle East, and Asia, as well as 31 labs in India. The company employs 8,000 engineers who serve over 200 customers.
L&T Tech operates in five industries: transportation, industrial products, telecommunications and information technology, process industry, and medical devices. The company provides design and development solutions across the product development chain, including mechanical and manufacturing engineering, embedded systems, software engineering, and process engineering.
Customers benefit from ER&D services by reducing time-to-market for their end goods and services, innovating to create new products and solutions, lowering development costs, and meeting increasing regulatory requirements more effectively. The company has filed 34 proprietary patents, and its customers and employees have filed 134 patents.
L&T Tech capitalizes on the assets of its parent business, L&T, a leading Indian conglomerate in technology, engineering, construction, manufacturing, and finance that has supplied the company with a diverse engineering and design background.
L&T Technology IPO Details
| IPO Date | September 12, 2016 to September 15, 2016 |
| Listing Date | September 23, 2016 |
| Face Value | ₹2 per share |
| Price Band | ₹850 to ₹860 per share |
| Lot Size | 16 Shares |
| Total Issue Size | 10,400,000 shares (aggregating up to ₹894.40 Cr) |
| Offer for Sale | 10,400,000 shares of ₹2 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
L&T Technology IPO Timeline
| IPO Open Date | Monday, September 12, 2016 |
| IPO Close Date | Thursday, September 15, 2016 |
| Basis of Allotment | Tuesday, September 20, 2016 |
| Initiation of Refunds | Wednesday, September 21, 2016 |
| Credit of Shares to Demat | Thursday, September 22, 2016 |
| Listing Date | Friday, September 23, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 15, 2016 |
L&T Technology IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | – | NA |
| QIB Shares Offered | 2,080,000 (28.57%) | NA |
| NII (HNI) Shares Offered | 1,560,000 (21.43%) | |
| Retail Shares Offered | 3,640,000 (50.00%) | 227,500 |
| Total Shares Offered | 7,280,000 (100%) |
L&T Technology IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹13,760 |
| Retail (Max) | 14 | 224 | ₹192,640 |
Objects of the Issue (L&T Technology IPO Objectives)
The objects of the Offer are (Information partner: chittorgarh.com, India’s No. 1 IPO Investment Portal)
- 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.
L&T Technology IPO Listing Details
| Listing Date | September 23, 2016 |
| BSE Script Code | 540115 |
| NSE Symbol | LTTS |
| ISIN | INE010V01017 |
| Final Issue Price | ₹860 per share |
L&T Technology Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹860.00 | ₹860.00 |
| Open | ₹900.00 | ₹920.00 |
| Low | ₹860.00 | ₹860.10 |
| High | ₹931.00 | ₹931.45 |
| Last Trade | ₹865.10 | ₹869.00 |
L&T Technology Services Ltd Contact Details
L&T Technology Services Ltd
L&T House,
N.M. Marg, Ballard Estate,
Mumbai 400 001
Phone: +91 22 6752 5656
Email: investor@LntTechservices.com
Website: http://www.lnttechservices.com
L&T Technology IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com
L&T Technology IPO FAQs
Q1. What is L&T Technology IPO?
Ans. L&T Technology IPO is a main-board IPO of 10,400,000 equity shares with a face value of ₹2, aggregating up to ₹894.40 crore. The issue is priced at ₹850 to ₹860 per share. The minimum order quantity is 16 shares. The IPO opens on September 12, 2016, and closes on September 15, 2016.
Q2. When L&T Technology IPO will open?
The L&T Technology IPO opens on September 12, 2016 and closes on September 15, 2016.
Q3. What is the size of the L&T Technology IPO?
Ans. L&T Technology IPO lot size is 16 shares, and the minimum amount required is ₹13,760.
Q4. When is L&T Technology IPO listing date?
Ans. The L&T Technology IPO listing date is September 23, 2016.
