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L&T Technology IPO is a book built issue of Rs 894.40 crores. The issue is entirely an offer for sale of 1.04 crore shares.
L&T Technology IPO bidding started from September 12, 2016 and ended on September 15, 2016. The allotment for L&T Technology IPO was finalized on Tuesday, September 20, 2016. The shares got listed on BSE, NSE on September 23, 2016.
L&T Technology IPO price band is set at ₹850 to ₹860 per share. The minimum lot size for an application is 16 Shares. The minimum amount of investment required by retail investors is ₹13,760.
Bofa Securities India Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the book running lead managers of the L&T Technology IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to L&T Technology IPO RHP for detailed information.
| 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 |
| Share holding pre issue | 101,690,392 |
| Share holding post issue | 101,690,392 |
L&T Technology IPO offers 7,280,000 shares. 2,080,000 (28.57%) to QIB, 1,560,000 (21.43%) to NII, 3,640,000 (50.00%) to RII. 227,500 RIIs will receive minimum 16 shares and (sNII) and (bNII) will receive minimum 240 shares. (in case of oversubscription)
| 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 opens on September 12, 2016, and closes on September 15, 2016.
| 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 |
Investors can bid for a minimum of 16 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹13,760 |
| Retail (Max) | 14 | 224 | ₹192,640 |
| Lot Size Calculator | |||
Incorporated in 2012, L&T Technology Services Ltd is Mumbai India based third-party ER&D (Engineering, Research and Development) service provider . L&T Tech provide services to manufacturing, technology and process engineering companies to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers. Information in this paragraph is provided by chittorgarh.com, India's No. 1 IPO Investment Portal.
L&T Tech derive 80.2% of its revenues from customers in North America and Europe. The majority of its work is executed by employees based out of delivery centers in India using an offshore delivery model. This gives L&T Tech a competitive advantage in terms of talent pool availability and lower costs compared to it US and European competitors. Company have 12 global delivery centers in India and overseas, 27 sales offices in India, North America, Europe, the Middle East and Asia and 31 labs in India. Company have 8,000 engineers serving over 200 customers.
L&T Tech operate in five industry segments; transportation, industrial products, telecom and hi-tech, process industry and medical devices. Company offer design and development solutions throughout the product development chain and provide solutions in the areas of mechanical and manufacturing engineering, embedded systems, software engineering and process engineering.
The ER&D services help customers reduce time-to-market for their end products and services, innovate to create new products and solutions, reduce cost of development and meet increasing regulatory requirements more effectively. Company have filed 34 proprietary patents and 134 patents have been filed by its customers along with its employees.
L&T Tech leverage the strengths of its parent company, L&T, a leading Indian conglomerate in technology, engineering, construction, manufacturing and finance, which has provided the company with a broad engineering and design heritage. Visit chittorgarh.com for more detail.
| Particulars | For the year/period ended (in Rs. Million) | |||
|---|---|---|---|---|
| 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 18,227.27 | 17,144.82 | 6,368.91 | 0.50 |
| Total Revenue | 29,694.04 | 25,856.22 | 1,222.00 | - |
| Profit After Tax (PAT) | 4,342.36 | 3,151.77 | 62.14 | (0.03) |
The objects of the Offer are (Information partner: chittorgarh.com, India's No 1 IPO Investment Portal)
1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and
2. To carry out the sale of up to 10,400,000 Equity Shares by the Selling Shareholder.
[Dilip Davda] The issue is from the Group reckoned for its market friendly gestures. This is the second IPO from the group in this year. However, last IPO from the group failed to live up to confidence post listing. Long term investors may consider investment in this issue as the company is one among the few in the world providing technology solutions. Read detail review...
The L&T Technology IPO is subscribed 2.52 times on September 15, 2016 7:00:00 PM. The public issue subscribed 1.74 times in the retail category, 5.01 times in the QIB category, and 1.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 5.01 |
| NII | 1.03 |
| Retail | 1.74 |
| Total | 2.52 |
| Listing Date | September 23, 2016 |
| BSE Script Code | 540115 |
| NSE Symbol | LTTS |
| ISIN | INE010V01017 |
| Final Issue Price | ₹860 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹860.00 |
| ₹900.00 |
| ₹860.00 |
| ₹931.00 |
| ₹865.10 |
| NSE |
|---|
| ₹860.00 |
| ₹920.00 |
| ₹860.10 |
| ₹931.45 |
| ₹869.00 |
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/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
L&T Technology IPO is a main-board IPO of 10,400,000 equity shares of the face value of ₹2 aggregating up to ₹894.40 Crores. 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.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The L&T Technology IPO opens on September 12, 2016 and closes on September 15, 2016.
L&T Technology IPO lot size is 16 Shares, and the minimum amount required is ₹13,760.
You can apply in L&T Technology IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for L&T Technology IPO will be done on Tuesday, September 20, 2016, and the allotted shares will be credited to your demat account by Thursday, September 22, 2016. Check the L&T Technology IPO allotment status.
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