Bookbuilding IPO | ₹894 Cr | Listed at BSE, NSE | Mon, Sep 12, 2016 - Thu, Sep 15, 2016
L&T Technology IPO is a book build issue of ₹894.40 crores. The issue is entirely an offer for sale of 1.04 crore shares of ₹894.40 crore.
L&T Technology IPO bidding started from Sep 12, 2016 and ended on Sep 15, 2016. The allotment for L&T Technology IPO was finalized on Sep 20, 2016. The shares got listed on BSE, NSE on Sep 23, 2016.
L&T Technology IPO price band is set at ₹860 per share. The lot size for an application is 16. The minimum amount of investment required by an retail is ₹13,760 (16 shares) (based on upper price). The lot size investment for sNII is 15 lots (240 shares), amounting to ₹2,06,400, and for bNII, it is 73 lots (1,168 shares), amounting to ₹10,04,480.
BOFA Securities India Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to L&T Technology IPO RHP for detailed Information.
IPO Open
Mon, Sep 12, 2016
IPO Close
Thu, Sep 15, 2016
Issue Price
₹860 per share
Market Cap (Pre-IPO)
₹8,745.37 Cr
| IPO Date | 12 to 15 Sep, 2016 |
| Listed on | Fri, Sep 23, 2016 |
| Face Value | ₹2 per share |
| Price Band | ₹850 to ₹860 |
| Issue Price | ₹860 per share |
| Lot Size | 16 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,04,00,000 shares (agg. up to ₹894 Cr) |
| Offer for Sale | 1,04,00,000 shares of ₹2 (agg. up to ₹894 Cr) |
| Share Holding Pre Issue | 10,16,90,392 shares |
| Share Holding Post Issue | 10,16,90,392 shares |
| BSE Script Code / NSE Symbol | 540115 / LTTS |
| ISIN | INE010V01017 |
L&T Technology IPO comprises a total issue size of 1,04,00,000 shares. Out of which, 52,00,000 (50.00%) are allocated to QIB, 15,60,000 (15.00%) allocated to NII 36,40,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 52,00,000 | 50.00% | NA |
| − Anchor Investor Shares Offered | 31,20,000 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 20,80,000 | 20.00% | NA |
| NII (HNI) Shares Offered | 15,60,000 | 15.00% | NA |
| Retail Shares Offered | 36,40,000 | 35.00% | 2,27,500 |
| Total Shares Offered | 1,04,00,000 | 100.00% |
Investors can bid for a minimum of 16 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹13,760 |
| Retail (Max) | 14 | 224 | ₹1,92,640 |
| S-HNI (Min) | 15 | 240 | ₹2,06,400 |
| S-HNI (Max) | 72 | 1,152 | ₹9,90,720 |
| B-HNI (Min) | 73 | 1,168 | ₹10,04,480 |
L&T Technology IPO raises ₹268.32 crore from anchor investors. L&T Technology IPO Anchor bid date is September 9, 2016.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 9, 2016 |
| Shares Offered | 31,20,000 |
| Anchor Portion (₹ Cr.) | 268.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Oct 20, 2016 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Dec 19, 2016 |
Incorporated in 2012, L&T Technology Services Ltd is Mumbai India based third-party ER&D (Engineering, Research and Development) service provider . L&T Tech provide services 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. Information in this paragraph is provided by chittorgarh.com, India's No. 1 IPO Investment Portal.
L&T Tech derive 80.2% of its revenues from customers in North America and Europe. The majority of its work is executed by employees based out of delivery centers in India using an offshore delivery model. This gives L&T Tech a competitive advantage in terms of talent pool availability and lower costs compared to it US and European competitors. Company have 12 global delivery centers in India and overseas, 27 sales offices in India, North America, Europe, the Middle East and Asia and 31 labs in India. Company have 8,000 engineers serving over 200 customers.
L&T Tech operate in five industry segments; transportation, industrial products, telecom and hi-tech, process industry and medical devices. Company offer design and development solutions throughout the product development chain and provide solutions in the areas of mechanical and manufacturing engineering, embedded systems, software engineering and process engineering.
The ER&D services help customers reduce time-to-market for their end products and services, innovate to create new products and solutions, reduce cost of development and meet increasing regulatory requirements more effectively. Company have filed 34 proprietary patents and 134 patents have been filed by its customers along with its employees.
L&T Tech leverage the strengths of its parent company, L&T, a leading Indian conglomerate in technology, engineering, construction, manufacturing and finance, which has provided the company with a broad engineering and design heritage. Visit chittorgarh.com for more detail.
| 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 | To achieve the benefits of listing the Equity Shares on the Stock Exchanges and to carry out thesale of 10,400,000Equity Shares by the Selling Shareholder |
The L&T Technology IPO is subscribed 2.52 times on September 15, 2016 7:00:00 PM (Day 3). The public issue subscribed 1.74 times in the retail category, 5.01 times in the QIB category, and 1.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 5.01 | 20,80,000 | |
| NII | 1.03 | 15,60,000 | |
| Retail | 1.74 | 36,40,000 | |
| Total | 2.52 | 72,80,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLMs | 13.13 |
| 2 | Selling commission and processing fees for SCSBs | 0.79 |
| 3 | Selling commission and bidding charges for the Syndicate Members, Registered Brokers, RTAs and CDPs | 1.28 |
| 4 | Fees payable to Registrar to the Offer | 0.30 |
| 5 | Printing and stationery expenses | 1.46 |
| 6 | Advertising and marketing expenses | 6.00 |
| 7 | Others: i. Listing fees; ii. SEBI, BSE and NSE processing fees; iii. Fees payable to Legal Counsels; and iv. Miscellaneous. | 8.01 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹860.00 | ₹860.00 |
| Open | ₹900.00 | ₹920.00 |
| Low | ₹860.00 | ₹860.10 |
| High | ₹931.00 | ₹931.45 |
| Last Trade | ₹865.10 | ₹869.00 |
L&T Technology IPO is a main-board IPO of 1,04,00,000 equity shares of the face value of ₹2 aggregating up to ₹894 Crores. The issue is priced at ₹860 per share. The minimum order quantity is 16.
The IPO opens on Mon, Sep 12, 2016, and closes on Thu, Sep 15, 2016.
Kfin Technologies 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 Technology IPO using UPI as a payment gateway. Zerodha customers can apply in L&T Technology IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in L&T Technology IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The L&T Technology IPO opens on Mon, Sep 12, 2016 and closes on Thu, Sep 15, 2016.
L&T Technology IPO lot size is 16, and the minimum amount required for application is ₹13,760.
You can apply in L&T Technology 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 Technology IPO will be done on Tuesday, September 20, 2016, and the allotted shares will be credited to your demat account by Thu, Sep 22, 2016. Check the L&T Technology IPO allotment status.
The L&T Technology IPO listing date is on Fri, Sep 23, 2016.
