L&T Infotech's initial public offering (IPO) was oversubscribed by 1.23 times till late afternoon trade on the first day of the issue on Monday. The company's IPO received bids for 15,122,100 shares against the total issue size of 12,250,000 shares, according to the data available with the National Stock Exchange till 5 p.m.
The IPO was priced in the range between RS 705 and Rs 710 per share. Retail investors are being offered a discount of Rs 10 per share. The issue will be open till July 13. With the IPO, the company can fetch up to Rs 1,243 crore.
The IPO includes an offer-for-sale of up to 1.75 crore equity shares by L&T Ltd. It comprises 10.3 per cent of the post offer paid-up equity share capital of the company.
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The IPO was priced in the range between RS 705 and Rs 710 per share. Retail investors are being offered a discount of Rs 10 per share. The issue will be open till July 13. With the IPO, the company can fetch up to Rs 1,243 crore.
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