Larsen & Toubro Infotech lists below issue price
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Larsen & Toubro (L&T) Infotech has listed at Rs 667, 6% below its issue price of Rs 710 per share on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
A discount of Rs 10 per equity share to the issue price of Rs 710 was offered to retail investors.
The stock erased some of its early losses and was trading at Rs 699 at 10:02 AM. It touched high of Rs 702 and low of Rs 666 on the NSE so far.
A combined 3.26 million equity shares changed hands on the counter on the NSE and BSE so far.
L&T Infotech’s Rs 1,230-crore initial public offering (IPO) has garnered 11 times subscription. The company's IPO had attracted more than one million applications, the highest for any share sale offer in at least five years.
The demand from institutional investors was robust, with the qualified institutional buyers category witnessing 20 times subscription. The retail segment was subscribed seven times and the high net worth individual category got subscribed nearly 11 times.
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