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Last Updated : Sep 14, 2016 03:47 PM IST | Source: Moneycontrol.com

Subscribe to L&T Technology Services IPO: Ajcon Global

Ajcon Global has come out with its report on L&T Technology Services IPO. The research firm has recommended to "Subscribe" the IPO in its research report as on September 09 , 2016.

 
 
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Ajcon Global in its research report on L&T Technology Services

Incorporated on June 14, 2012, L&T Technology Services Ltd (“LTTSL”) is the leading global pure-play Engineering, Research and Development (“ER&D”) services company. The company provide ER&D services, which 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.

According to Zinnov Report, global corporate ER&D spend was US$1,007 bn in 2015, of which the ER&D spend of the top 500 global ER&D spending companies spend was US$614 bn in 2015. The estimated addressable ER&D outsourcing opportunity for ER&D service providers was US$365 bn of the G500 ER&D spend in 2015. US$67 bn of the corporate ER&D spend of US$1,007 bn is currently addressed, which represents a penetration of 6.7% and offers potential growth opportunities.

LTTSL has been recognized by Zinnov in the “leadership zone” in eight industry verticals (industrial automation, construction & heavy machinery, medical devices, aerospace, automotive, rail & marine telecom, energy and utilities in Zinnov’s GSPR Ratings 2015.

Objects of the issue
To achieve the benefits of listing the Equity Shares on the Exchanges and to carry out the sale of up to 10,400,000 Equity Shares by the Selling Shareholders.

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First Published on Sep 9, 2016 05:00 pm
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