Larsen & Toubro Infotech Ltd. allots 52.5 lakh equity shares to 22 anchors
Anchors include Auburn Ltd., FIL Investments, HDFC Trustee, Birla Sun Life, Prudential ICICI, Reliance Capital, New India Assurance, Max Life Insurance, NTAsian Emerging Leaders Master Fund, BNP Paribas, India Max Investment, GIC, Global Strong Growth Fund, Shriram Life Insurance, Tata AIA Life, HDFC Ergo, Star Union Dai Ichi, Reliance General Insurance, Shriram General Insurance & Union Bank of India
IPO to open on July 11, 2016 and close on July 13, 2016
Price Band fixed from Rs. 705 to Rs. 710 per Equity Share
A discount of Rs 10 per Equity Share will be offered to retail individual bidders on the Offer Price
Larsen & Toubro Infotech Limited (the “Company” or “L&T Infotech”) has finalised allotment of 52.50 lakh shares at Rs. 710 per equity share (upper end of the Price Band) aggregating to Rs. 372.75 crore to 22 anchors. Anchors include Auburn Ltd. (42.92%), FIL Investments (Mauritius) Ltd. (5.37%), HDFC Trustee Co. Ltd. - HDFC Prudence Fund (10.73%), Prudential ICICI Technology Fund (4.02%), Birla Sun Life Trustee Company Private Limited A/C, Birla Sun Life Frontline Equity Fund (3.22%), Birla Sun Life Trustee Company Private Limited A/C, Birla Sun Life Advantage Fund (0.80%), Birla Sun Life Trustee Company Private Limited A/C, Birla Sun Life Midcap Fund (1.34%), Reliance Capital Trustee Co. Ltd. A/C Reliance Small Cap Fund (2.68%), The New India Assurance Co. Ltd. (5.37%), Max Life Insurance Co. Ltd. A/C Participating Fund (2.68%), Ntasian Emerging Leaders Master Fund (2.07%), BNP Paribas Arbitrage (2.68%), India Max Investment Fund Limited (1.34%), Global Strong Growth Fund (1.34%), General Insurance Corporation of India (2.68%), Shriram Life Insurance Company Ltd. - Shareholders Balance (2.68%), Tata AIA Life Insurance Co. Ltd. A/C Whole Life Mid Cap Equity Fund ULife 009 04/01/07 WLE 110 (1.34%), HDFC Ergo General Insurance Co. Ltd. (1.34%), STAR Union Dai-Ichi Life Insurance Company Limited (1.34%), Reliance General Insurance Co. Ltd. (1.34%), Shriram General Insurance Company Ltd. (1.34%) and Union Bank of India (1.34%).
The Company proposes to open on July 11, 2016, its public offer of up to 17,500,000 equity shares of face value of Re. 1 each (the “Equity Shares”) for cash at a price band from Rs. 705 to Rs. 710 per Equity Share through an offer for sale (the “Offer”) by the promoter, Larsen & Toubro Limited (the “Selling Shareholder”). The Offer would constitute 10.30% of the post-offer paid-up Equity Share capital of the Company. The Offer will close on July 13, 2016. A discount of Rs. 10 per equity share will be offered to retail individual bidders on the Offer Price. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
The BRLMs to the Offer are Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited & ICICI Securities Limited.
The Equity Shares offered through the Offer are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”). For the Offer, NSE shall be the Designated Stock Exchange.