Bookbuilding IPO | ₹1,245 Cr | Listed at BSE, NSE | Wed, Jul 27, 2011 - Fri, Jul 29, 2011
L&T Finance Holdings IPO is a book build issue of ₹1,245.00 crores. The issue is entirely a fresh issue of 23.77 crore shares of ₹1,245.00 crore.
L&T Finance Holdings IPO bidding started from Jul 27, 2011 and ended on Jul 29, 2011. The shares got listed on BSE, NSE on Aug 12, 2011.
L&T Finance Holdings IPO price band is set at ₹52 per share. The lot size for an application is 100. The minimum amount of investment required by an retail is ₹5,900 (100 shares) (based on upper price). The lot size investment for sNII is 39 lots (3,900 shares), amounting to ₹2,02,800, and for bNII, it is 193 lots (19,300 shares), amounting to ₹10,03,600.
The issue includes a reservation of up to 1,00,00,000 shares for employees offered at a discount of ₹2.00 to the issue price.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and Sharepro Services Pvt.Ltd. is the registrar of the issue.
Refer to L&T Finance Holdings IPO RHP for detailed Information.
IPO Open
Wed, Jul 27, 2011
IPO Close
Fri, Jul 29, 2011
Issue Price
₹52 per share
Market Cap (Pre-IPO)
₹8,916.59 Cr
| IPO Date | 27 to 29 Jul, 2011 |
| Listed on | Fri, Aug 12, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹59 |
| Issue Price | ₹52 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹2.00 |
| Total Issue Size | 23,77,05,361 shares (agg. up to ₹1,245 Cr) |
| Fresh Issue | 23,77,05,361 shares (agg. up to ₹1,245 Cr) |
| Share Holding Pre Issue | 1,47,70,24,426 shares |
| Share Holding Post Issue | 1,71,47,29,787 shares |
| BSE Script Code / NSE Symbol | 533519 / LTF |
| ISIN | INE498L01015 |
L&T Finance Holdings IPO comprises a total issue size of 23,77,05,361 shares. The net offer to the public is 20,46,28,438 shares, after excluding 3,30,76,923 shares under a preferential allotment. Of the Net offer 10,23,14,220 (50.00%) are allocated to QIB, 3,06,94,265 (15.00%) allocated to NII 7,16,19,953 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 10,23,14,220 | 50.00% | 43.04% | NA |
| − Anchor Investor Shares Offered | 2,73,30,300 | 11.50% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 7,49,83,920 | 31.54% | NA | |
| NII (HNI) Shares Offered | 3,06,94,265 | 15.00% | 12.91% | NA |
| Retail Shares Offered | 7,16,19,953 | 35.00% | 30.13% | 7,16,199 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,00,00,000 | 4.21% | NA | |
| Shareholders Shares Offered | 2,30,76,923 | 9.71% | NA | |
| Total Shares Offered | 23,77,05,361 | 100.00% | 100.00% | |
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹5,200 |
| Retail (Max) | 38 | 3,800 | ₹1,97,600 |
| S-HNI (Min) | 39 | 3,900 | ₹2,02,800 |
| S-HNI (Max) | 192 | 19,200 | ₹9,98,400 |
| B-HNI (Min) | 193 | 19,300 | ₹10,03,600 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Yes | |
| Employee + Shareholder |
|
Yes |
| Employee + Shareholder + RII/NII |
|
Yes for shareholder/employee/RII |
| Shareholder + RII/NII |
|
Yes for shareholder/RII |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Note: To be eligible for the Shareholder Quota, you must hold shares in one of the following companies:
Incorporated in 2008, L&T Finance Holdings is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors as well as mutual fund products and investment management services. Promoted by Larsen & Toubro Ltd, one of the leading companies in India, with interests in engineering, construction, electrical and electronics manufacturing and services, information technology and financial services, L&T Finance Holdings is registered with the RBI as a Systemically Important Non-Deposit Taking Non-Banking Financial Company and has applied for registration as a Core Investment Company.
Company's operations are arranged into four business groups – the Infrastructure Finance Group, the Retail Finance Group, the Corporate Finance Group and the Investment Management Group. LTF's customer includes individual retail customers as well as large companies, banks, multinational companies and small- and medium-enterprises.
LTF offers a spectrum of financial products and services for trade, industry and agriculture. The company's focus segments are corporate products, construction equipment, CVs and tractors.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of intercorporate deposit issued by the Promoter to the Company | 345.00 |
| 2 | Infusion of capital in L&T Finance Limited | 515.00 |
| 3 | Infusion of capital in L&T Infrastructure Finance Company Limited | 485.00 |
| 4 | General Corporate Purposes | 181.44 |
| KPI | |
|---|---|
| RoNW | 13.58% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 95.94% | 82.64% |
| Market Cap | ₹8,916.59 Cr. |
The L&T Finance IPO is subscribed 5.34 times on July 29, 2011 7:45:00 PM (Day 3). The public issue subscribed 9.61 times in the retail category, 1.93 times in the QIB category, and 6.18 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.93 | 7,53,82,416 | |
| NII | 6.18 | 3,16,17,647 | |
| Retail | 9.61 | 7,37,74,510 | |
| Employee | 1.53 | 1,02,04,082 | |
| Others | 3.35 | 2,35,29,412 | |
| Total | 5.34 | 21,45,08,067 |
CARE / ICRA has assigned an IPO Grade 5 to L&T Finance IPO. This means as per CARE / ICRA, company has 'Strong Fundamentals'. CARE / ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read L&T Finance Holdings IPO Grading Report
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fee and underwriting commissions | 21.60 |
| 2 | Processing fee to the SCSBs for processing ASBA Bid cum Application Forms procured by members of the Syndicate and submitted to SCSBs under the Syndicate ASBA process | 0.14 |
| 3 | Advertising and marketing expenses | 17.55 |
| 4 | Printing and stationery | 3.14 |
| 5 | IPO grading expenses | 0.28 |
| 6 | Others (SCSB commission, Registrar's fee, legal fees, auditor fees, Stamp Duty, Listing Charge etc.) | 5.86 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹52.00 | ₹52.00 |
| Open | ₹51.00 | ₹53.85 |
| Low | ₹49.50 | ₹49.30 |
| High | ₹52.50 | ₹53.85 |
| Last Trade | ₹49.95 | ₹50.05 |
L&T Finance Holdings IPO is a main-board IPO of 23,77,05,361 equity shares of the face value of ₹10 aggregating up to ₹1,245 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 100.
The IPO opens on Wed, Jul 27, 2011, and closes on Fri, Jul 29, 2011.
Sharepro Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in L&T Finance Holdings IPO using UPI as a payment gateway. Zerodha customers can apply in L&T Finance Holdings IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in L&T Finance Holdings IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The L&T Finance Holdings IPO opens on Wed, Jul 27, 2011 and closes on Fri, Jul 29, 2011.
L&T Finance Holdings IPO lot size is 100, and the minimum amount required for application is ₹5,200.
You can apply in L&T Finance Holdings IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for L&T Finance Holdings IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the L&T Finance Holdings IPO allotment status.
The L&T Finance Holdings IPO listing date is on Fri, Aug 12, 2011.
