Moneycontrol Bureau
L&T Technology Services, the subsidiary of engineering & construction giant Larsen and Toubro, will list its equity shares on September 23. The issue price is fixed at Rs 860 per share, the higher end of price band.
The Rs 894-crore issue, which opened for subscription during September 12-15, was oversubscribed 2.52 times.
It is the second company from the L&T Group to hit the capital market with an IPO since July, after L&T Infotech that listed on July 21.
The 1.04 crore equity shares issue was an offer for sale by its parent company L&T. Hence, the engineering, research and development (ER&D) services provider would not get any money from the issue.
L&T Technology Services provides ER&D Services, which is defined as the set of services provided 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
