L&T Infotech Ltd IPO Message Board (Page 63)

10% discount offer for retail. Face value is Re 1/ only. LT finance never gave good returns. LT policy is such, they sell their holdings often and hence ( in case LT finance) subsidiaries price move in range. Though company is good but management policy is doubtful towards shareholders.

Eagleye mem why you donot talking about gmp when upper band was rs800 premium was 130 ie listing 930 now price 700 then what is gmp 230 am i right

~:-((((

Eagleye mem why you

Dear septaji,

what to do with PCL shares? sell or hold? holding of IPO.

Please reply.

I will average it and hold

Wht could be SL for PCL. is any switch is required to index based script? Partially ? Septaji

copy from money control

The company has fixed price band for the issue at Rs 705-710 per share and offered 10 percent discount to retail investors on issue price.

Read more at: http://www.moneycontrol.com/news/ipo-upcoming-issues/lt-infotech-ipo-to-openjuly-11-price-band-at-rs-705-710sh_6946501.html?utm_source=ref_article

108. Arjun Patel Jun 29, 2016 12:06:37 PM IST Reply
L&T Infotech Ltd IPO

L&T price band 750 or below.
Forget 778-800
Septa ji
Plz find fair value

Take price band apx 725.
At 800 Its aggresively priced




Price band 778-800

I was trading in grey with 725 price.

With the estimated EPS of Rs65 for FY18E, PE multiple comes at ~11x at upper band. This is at discount to its peers which are trading at a multiple of 14-16x on FY18E earnings.

Also, the company is promoted by one of the most respected conglomerate in India.

So one should apply for an upside of 15-20%.

Septa / Egale Eye
Is it Rs.10/- discount or 10% discount. There seems to be confusion about this. Kindly clarify

10 rs discount

It''s 10% discount not 10 rupees.

http://www.moneycontrol.com/news/ipo-upcoming-issues/lt-infotech-ipo-to-openjuly-11-price-band-at-rs-705-710sh_6946501.html

I don''''t think so we have to apply for L&T infotech IPO because the face value is 1 rupee and the share price is 800rupees which means we are gonna buy the share in 8000rupees. I believe it''''s a big mess.

price 705-710
retail discount 10

L&T Infotech IPO

Market pundits are expecting oversubscription as follows:

NII category ... 130X – 160X
RII category ... 3.25X – 3.50X (on basis of number of applications)

Egale Eye, My guess is it will be more than 10-15 times and less than in retail category.

Dear eagleye,
What is your estimate about QIB subscription which is most vital. Your estimate about retail portion appears accurate since
(1) This will not be oversubscribed as much as MGL due to less fancy.
(2) The issue size is also substantially bigger than MGL. It will be oversubscribed one time(application wise) if 3.27 L applications are received.
I have a feeling that it may not cross 3 times(application wise). Let us wait and watch.

l&t infotech would be priced at 705-710

retailers would be given a discount of 10 %.

L&T Infotech to launch IPO on 11 July at Rs705-710 per share

The public offering is a pure offer for sale with the parent firm L&T looking to divest about 10.85% of its stake in the company.
Mumbai: Larsen and Toubro Infotech Ltd, the information technology (IT) services unit of India’s largest engineering company, will launch its initial public offering (IPO) on 11 July, the parent firm said in a filing to stock exchanges on Wednesday.

The IPO will close on 13 July.

L&T Infotech has fixed a price band of Rs.705-710 per share for offering, the filing said. At the upper end of the price band, the IPO size would be Rs.1,242.5 crore. The company is offering a discount of Rs.10 for retail investors.

The public offering is a pure offer for sale with the parent firm L&T looking to divest about 10.85% of its stake in the company.

The IT services arm of L&T is structured around two businesses—the industrials and the services clusters. The industrials cluster caters to clients such as manufacturing, energy and utilities, hi-tech and consumer electronics, automotive and aerospace, engineering and construction. The services cluster focuses on banking, financial services, insurance, travel and logistics, media and entertainment and healthcare.

L&T Infotech had initially filed its IPO draft red herring prospectus (DRHP) in September 2015. However, in April the company refiled its DRHP.

“Since the DRHP was filed several months ago, and in the IT services industry business changes on a quarterly basis, when our firm does take the L&T Infotech IPO to the market, it should do so on the basis of the most recent financial results,” an L&T spokesperson said on 11 April.

The company has hired Citigroup Global Markets India Pvt. Ltd, Kotak Mahindra Capital Co. Ltd and ICICI Securities Ltd to manage the share sale.

L&T Infotech’s revenue rose 2.15% to Rs.4,744 crore for the year ended 31 March from Rs.4,644 crore in the previous year. Net profit fell 14% to Rs.774 crore from Rs.903 crore a year ago.

The IT services company’s total headcount stood at 20,072 as of end of fiscal year 2015-16.

L&T’s plan to list the IT services arm is part of the group’s plans to monetize its shareholding in several of its businesses.

In the company’s 2014-15 annual report, L&T group executive chairman A.M. Naik had said that the company will monetize assets from time to time. Naik had said that L&T intends to unlock value of its IT and technology services business.

On 9 June, Bloomberg reported that L&T has picked advisers to prepare an IPO of about Rs.1,000 crore for its subsidiary L&T Technology Services Ltd. The Mumbai-based conglomerate is working with Kotak Mahindra Bank Ltd, Bank of America Corp. and JM Financial Ltd on the engineering-services unit’s listing, Bloomberg reported.

So far this year, 11 firms have raised approximately Rs.7,783.6 crore through the IPO route, according to data from primary market tracker Prime Database. In 2015, 21 companies had raised Rs.13,614 crore through IPOs, data shows.

Septaji,
Is it Rs.10/- discount or 10% discount. There seems to be confusion about this. Kindly clarify.

https://www.youtube.com/watch?v=AXDlekXXAoo

Nowadays apart from operators, merchant bankers too keeping an eye on forum to decide ipo pricing.i post below message very earlier when prices was rumored 780 , this is steep discount of 80 rs. ~

3.1. Khemka Jun 27, 2016 1:06:54 PM IST
Agreed, possible discount listing maybe there too, fingers should be crossed time being

Even 10 rs is good discount. Nearly 1.4% ....which will give u more( 14000*1.4% =) 200rs/application

I told u that discount is only 4 employee who working in that cmpny... not 4 us why u all r bother abt it.. It''s 4 employee retail not only retail ok.. N it''s only dis rs 10 only..

The discount is for retail individual bidders also. it is mentioned in their letter.

This is written on NSE website.

Larsen & Toubro Limited has informed the Exchange vide letter dated June 29, 2016 "With reference to our earlier announcements dated April 12, 2016 and June 28, 2016 in relation to the proposed Initial Public Offering of Equity Shares of our Subsidiary, L&T lnfotech, we hereby wish to inform that the Price Bandhas been fixed between Rs 705 to Rs 710 per equity share. A discount of Rs 10 per equity share will be offered to retail individual bidders".

The letter sent to the exchange in PDF format also mentions Rs. 10 per share discount. Nowhere it is mentioned that there is 10% discount. So don''t believe Moneycontrol website. They make many mistakes. The information on the NSE website is authentic.

So it is Rs. 10 per share discount not 10%

MoneyControl says price band is 705-710; 10% discount for retail. (Don''t know if the 705-710 is including that 10% or excluding)

As per NSE website, the discount is Rs. 10 only

Even since L& T Infotech filed the DRHP , it is one of confusion , Once got the approval. Withdrew the issue citing valuation issue , high valuation . Got the approval next time . First fixed the price band 778-800 and reduced the price band to 705-710 with a more than a generous discount to retail category. whether it is 10 % or 10 per share discount needs confirmation. In the days when promoters are greedy to get more issue , l&T Infotech''s promoters generosity has caught the followers of IPO by surprise.