Comments
L&T Infotech, which recently concluded its Rs 1,243-crore IPO, will make its stock market debut tomorrow.
READ: L&T Infotech shares list below issue price
The listing will take place on the NSE in the presence of L&T Group Executive Chairman, A M Naik, and other top officials along with merchant bankers.
The company’s shares will list both on NSE and BSE.
The company’s IPO had attracted more than one million applications, the highest for any share sale offer in at least five years.
From 2011 till date, L&T Infotech is the first one to attract million applications.
L&T Infotech had fixed a price band of Rs 705-710 per share for the offering.
Kotak Mahindra Capital Company, Citigroup Global Markets India and ICICI Securities were the managers of the issue.
In the financial year 2015-16, L&T Infotech’s revenue from operations and other income stood at Rs 6,143.02 crore, while it clocked a profit after tax of Rs 922.17 crore during the same period.
L&T Infotech is the sixth largest Indian IT services player at present with a revenue of $887 million and an employee base of over 20,000 people.
The company, part of the diversified Larsen & Toubro group, has joined the list of about a dozen other companies that have come out with their IPOs so far this year.
Comments
COMMENT NOW
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.