L&T Technology Services, a wholly-owned subsidiary of engineering major Larsen & Toubro, plans to raise Rs. 884-894 crore from the primary market by offloading 10.2 % of the parent’s equity.
The company is putting 1.04 crore shares on the block at a price band of Rs. 850-860 per equity share of face value of Rs. 2.
The IPO will be open from September 12-15,2016
The
minimum bid lot is 16 shares and thereafter in multiples of 16.
The
shares will be listed on the BSE and NSE. Kotak Mahindra Capital, Bank
of America - Merrill Lynch, JM Financial and SBI Capital Markets are the
book running lead managers to the issue.
L&T Technology Services is a pure-play engineering services company, the management said at a press conference.
The
company operates in 5 industry segments -
- transportation
- industrial products
- telecom and hi-tech
- process industry and
- medical devices.
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