L&T Technology Services IPO – Price, Date, Details, Allotment, Listing

L&T technology services ipoL&T Technology Services IPO is set to hit the capital markets on September 12, 2016 with its IPO till September 15, 2016. The Price Band for L&T Technology Services IPO is fixed at Rs. 850 to Rs.860 per equity shares with a face value of Rs. 2 per share. In all, 10.4 million shares will be on offer to make issue size of Rs. 900 crore approx. If you are planning to apply for this IPO, please see details for the same here below.

The company had filed a draft red herring prospectus (DRHP) to the hit the capital market  with an Initial public offering to raise Rs. 894.40 crore by selling 1.04 crore shares.

Approx. 36.40 lakh shares will be allotted to the retail category.  While, 15.60 lakh shares will be set for  the non-institutional segments Further, 52 lakh shares of the quota limit will be placed for qualified institutional buyers (QIB). Anchor investors will be allotted up to  21.20 lakh shares and rest 20.80 lakh shares to other QIBs. The reservation for mutual fund will be approx. 1.04 lakh shares.

Company Profile:

The company was incorporated in 2012 and based in Mumbai, India. Larsen & Toubro limited is the parent company of the firm which is an expert for its technology, engineering, construction, manufacturing and finance.  L&T Technology and Service company  is working as a service provider of third party in the field of Engineering, Research and Development. It has occupied a wide area in domestic and international market. The company receives 80% of its revenue from the customers in North America and Europe. The firm deals mainly in the segment of transportation, industrial products, telecom and hi-tech, process industry and medical devices which are engaged to deliver as an important component of G500 ER&D spend. M2M connectivity, IoT, engineering analytics  and power electronic are the core facilities or services as offered by the company.

The company is awarded as a “leadership zone” by Zinnov ‘s GSPR rating in 2015. The company is providing its services in a network of delivery centers located across the United states of America. It is available from its customers locations in India. It has 12 global delivery centers across India and overseas, 27 sales offices in India North America, Europe, the Middle East and Asia and 31 labs in India.

Below are the company’s five broad segments for its business:-

  1. Transportation
  2. Industrial Products
  3. Telecom and Hi-tech
  4. Process Industry
  5. Medical Services

Outlook of the Firm:

  1. Established as a global pure play ER&D Services firm
  2. Run an expertise multi-vertical industry with long-standing customer relationships
  3. Focused to drive an innovation through in-house R&D, IP and strategic alliances
  4. Expertise and Focus L&T parentage and long history of engineering
  5. Highly Qualified and experienced management team

Objects Of The Issue: L&T Technology Services IPO

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.

3) To increase its investments in innovation labs along with focusing towards its expansion for geographical footprint through selective acquisitions.

Summary Of Issue: L&T Technology Services IPO

Issue Open:- Sep 12,2016-Sep 15,2016
Issue Type 100% Book Built Issue IPO
Issue Size (Shares) [10,400,000]Equity Shares
Issue Size in (Value) Equity Shares of Rs. 2 aggregating up to Rs. [894.40] Crore
Face Value Rs. 2 Per Equity Share
Issue Price Rs. [850 to Rs. 860] Per Equity Share
Market lots 16 Shares
Minimum Order Quantity 16 Shares
Listing At BSE, NSE

 Promoters Of the Company:

The Promoter of the Company is Larsen & Toubro Limited. L&T currently holds 101,690,392 Equity Shares (including six Equity Shares held jointly with six individuals as nominees of our Promoter), equivalent to 100% of the pre-Offer issued, subscribed and paid-up Equity Share capital of L&T Technology Services.

Financials:

Particulars For the year/Period ended (Rs. in Million)
Financial Year 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Equity & Liabilities 18227.27 17144.82 6368.91 0.50
Total Assets 18227.27 17144.82 6368.91 0.50
Total Revenue 29694.04 25856.22 1222.00
Total Expenses 23616.31 21562.86 1065.99 0.03
Profit After Tax (PAT) 4342.36 3151.77 62.14 (0.03)

Subscription figures for L&T Technology Service IPO

Shares Offered / Reserved Day 1 – Sep 12, 2016 Day 2 – Sep 14, 2016 Day 3 – Sep 15, 2016 7PM
QIB 2,080,000 0.28 1.1 5.01
NII 1,560,000 0.02 0.03 1.03
Retail 3,640,000 0.19 0.77 1.74
Total 7,280,000 0.18 0.71 2.52

Allotment Status for L&T Technology Service IPO

Please keep looking for this space for Allotment details after the closure of Issue. One can check the Allotment details with either PAN number or Application number or DP Client Id on the link given below.

All you need to follows are these steps.

  1. Go to the given link Allotment Status link here
  2. Select IPO as L&T Technology Service IPO
  3. Enter your PAN or Application No. or DP Client Id

It may take few seconds so be little patient. If you have not got the shares, please check the basis of allotment here on this link

Listing Date for L&T Technology Service IPO

Please keep looking for this space for the information update. Generally listing date is one week after the closure date of IPO.

Lead Manager  L&T Technology Services IPO

Kotak Mahindra Capital Company Limited

1st Floor, 27 BKC, Plot No. 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051

Tel: (91 22) 4336 0000  Fax: (91 22) 6713 2447

E-mail: ltts.ipo@kotak.com

Website: http://investmentbank.kotak.com

Investor grievance e-mail: kmccredressal@kotak.com

Contact person: Ganesh Rane

SEBI Registration No.: INM000008704

DSP Merrill Lynch Limited

Ground Floor, A Wing, One BKC, G Block, Bandra Kurla Complex

Bandra (East), Mumbai 400 051

Tel: (91 22) 6632 8000   Fax: (91 22) 2204 8518

E-mail: dg.lnttechnologyservices_ipo@baml.com

Website: www.dspml.com

Investor grievance e-mail: dg.india_merchantbanking@baml.com

Contact person: Saransh Shringi

SEBI Registration No.: INM000011625

JM Financial Institutional Securities Limited

7th Floor, Cnergy Appasaheb, Marathe Marg Prabhadevi,  Mumbai 400 025

Tel: (91 22) 6630 3030    Fax: (91 22) 6630 3330

E-mail: l&ttech.ipo@jmfl.com

Website: www.jmfl.com

Investor grievance e-mail: grievance.ibd@jmfl.com

Contact person: Lakshmi Lakshmanan

SEBI Registration No.: INM000010361

SBI Capital Markets Limited

202, Maker Tower ‘E’ Cuffe Parade, Mumbai 400 005

Tel: (91 22) 2217 8300   Fax: (91 22) 2218 8332

E-mail: ltts.ipo@sbicaps.com

Website: www.sbicaps.com

Investor grievance e-mail: investor.relations@sbicaps.com

Contact person: Nithin Kanuganti/ Nikhil Bhiwapurkar

SEBI Registration No.: INM000003531

Registrar To The L&T Technology Services IPO

Karvy Computershare Private Limited

Karvy Selenium Tower B, Plot 31-32, Gachibowli

Financial District, Nanakramguda, Hyderabad 500 032

Tel: (91 40) 6716 2222   Fax: (91 40) 2343 1551

Email: einward.ris@karvy.com

Website: https://karisma.karvy.com

Investor Grievance e-mail: l&ttechnology.ipo@karvy.com

Contact Person: M. Murali Krishna

SEBI Registration No: INR000000221

Registered Office Details:-

L&T House, N.M. Marg, Ballard Estate, Mumbai 400 001;

Tel: (91 22) 6752 5656;    Fax: (91 22) 6752 5893

Corporate Office: 5th Floor, West Block-II,  L&T Knowledge City (IT/ITES) SEZ,

 N.H. No. 8, Ajwa Waghodia Crossing,  Vadodara 390 019;

Tel: (91 265) 670 5000/ (91 265) 670 5001;   Fax: (91 265) 670 5955

Contact Person: Kapil Bhalla, Company Secretary and Compliance Officer

E-mail: investor@LntTechservices.com;

Website: www.lnttechservices.com/

Corporate Identity Number: U72900MH2012PLC232169

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4 thoughts on “L&T Technology Services IPO – Price, Date, Details, Allotment, Listing

  • L&T Infotech was a big success and I guess this IPO should see the similar fate…people always tend to see grey market premium however I only the the reputation of promoters and past track record. In nut shell, I will surely apply for this.

    • IT IS WONDERING HOW THE PAT HAS HAS GALLOPED FROM 62 MILLION IN 2013-14 HAS GONE UP TO MORE THAN 3000 MILLION IN 2014-15 AND AGAIN MORE THAN 4000 MILLION. FURTHER THE THE MORE THAN 80 % OF COMPANY’S REVENUE IS CONCENTRATED IN EUROPE AND OTHER WESTERN COUNTRIES, WHICH MAY NOT BE SUSTAINABLE AS IN THE CASE OF INFOSIS WICH LOST 25% 0F THE ORDER IN UK. THE L&T INFOTECH PREMIUM IS NOT ACCEPTABLE IN THE MARKET. IT IS WONDERING HOW THE MERCHANT BANKERS ARE VALUING THE SHARE AND THE BRIEF GIVEN ABOVE IS NOT AT ALL SUPPORTED BY JUSTIFICATION FOR PRICING. REQUEST FOR COMMENTS / REPLY AS OTHERWISE IT WOULD BE PRESUMED THAT ” MY SHARE BAZAAR” IS NOT INTEREST IN TAKING CARE OF THE SMALL SHAREHOLDERS. REGDS K THYAGARAJAN

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