L&T Technology Services IPO

L&T Technology Services IPO

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L&T LogoL&T Technology IPO

L&T Technology Services is a fully owned subsidiary of engineering major Larsen & Toubro (L&T) and offers engineering research and development services. Established in 2012, L&T Technology Services provides its services to clients in manufacturing, technology and process engineering industries. Most of these clients are based in North America and Europe. L&T Technology Services generated around 80.2% of its revenues in FY2016 from customers in these two regions.
L&T Technology primarily operates in five industry verticals – Transportation (29.9% of revenues in FY2016), Industrial products (25.2%), Telecom and Hi-tech (19.8%), Process industry (18.7%) and Medical devices (6.3%).
According to the red herring prospectus (RHP), L&T Tech employed a total of 9,419 employees as of 30 June 2016, including more than 2,000 employees outside India. The company operates through 12 global delivery centres in India and overseas, 26 sales offices in India, North America, Europe, the Middle East and Asia and 31 labs in India.  
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Subscription Dates12-15 September 2016
Price BandINR850-860 per share
Offer For Sale10,400,000 shares (INR894.4 crore at upper price)
Total IPO size10,400,000 shares (INR894.4 crore at upper price)
Minimum bid (lot size)16 shares
Face Value INR2 per share
Retail Allocation35%
Listing OnBSE, NSE
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Fresh issue sizeNil
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Name of shareholderEquity SharesPercentage (%)
Larsen & Toubro (L&T) 101,690,392100.0
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L&T Technology’s consolidated financial performance (in INR crore)

 FY2012FY2013FY2014FY2015FY2016
Total revenueNANANA2,643.83,142.7
Operating profitNANANA423.9596.6
Profit after taxNANANA310.9416.6
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L&T Tech IPO Subscription Details

CategoryShares offeredSubscription (No. of times, at 5 PM) 
Day 1Day 2Day 3
QIB2,080,000 0.27 1.105.01
NII 1,560,0000.010.031.02
Retail 3,640,0000.190.77 1.69
Total7,280,0000.170.71 2.49
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L&T Technology IPO Allotment Status

L&T Tech IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status.

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L&T Technology Contact Details

L&T Technology Services Ltd
5th Floor, West Block-II, L&T Knowledge City,
N.H. No. 8, Ajwa Waghodia Crossing
Vadodara 390 019 

Phone: +91 265 670 5000
Fax: +91 265 265 5955
Email: [email protected]
Website: www.lnttechservices.com

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Registrar of L&T Technology IPO

Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India

Phone: +91 40 23312454
Fax: +91 40 23311968
Email: [email protected]
Website: http://karisma.karvy.com

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Listing Performance of L&T Technology Services IPO

IPO Opening Date: 12 September 2016

IPO Closing Date: 15 September 2016

Finalisation of Basis of Allotment: 20 September 2016

Initiation of refunds: 21 September 2016

Transfer of shares to demat accounts: 22 September 2016

Listing Date: 23 September 2016

Listing Price on NSE: INR920 per share (return of 6.97% over IPO price)

Closing Price on NSE: INR860.55 per share (no return over IPO Price)

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32 COMMENTS

  1. I checked with my broker, L&T Infotech Ipo GMP is around 70 which is not bad for short term results. But it is the infotech ipo which is worrying me. I’m thinking of selling the application

    • I guess you mean L&T Technology and not L&T Infotech. If this is the case, stop misleading. GMP is not more than 30, chek with the intention of selling the application and your broker will back off.

  2. Guys, apply in full confidence. Apprehensions about US are overblown and none of the analysts are mentioning that L&T Tech pays regular dividend.

  3. SIR,

    THE CMP OF PREVIOUS ISSUE IS RS. 643.00 AGAINST THE IPO PRICE RS. 710. THE PRICES OF THE GIANT IT CO. LIKE INFY, TCS, WIPRO, TECHM, HCL TECH ETC. ARE DIMINISHING DAY BY DAY. MOREOVER LOT OF RISKS & UNCERTAINTIES ARE INVOLVED IN TECHNOLOGY STOCKS LIKE NOV. ELECTION IN USA, OUTSOURCING, DEPRECIATION IN DOLLAR, BREXIT,

    THE INVESTORS ARE PUTTING THEIR HARD EARNED IN STOCK MKT.

    SO IN MY OPINION IT IS OVER PRICED ALTHOUGH LT IS ONE OF THE PIONEER IN IT SECTOR.

  4. Hi

    Super expensive at 850/- Does it make sense to invest in this IPO…Please suggest…
    What is the status in grey market for this IPO…..

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