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Wednesday, August 10, 2011

The Equity Shares of L&T Finance Holdings,  the subsidiary of engineering and construction giant Larsen and Toubro Limited, will commence trading on the exchanges with effect from Friday, August 12, 2011

The Issue price of the shares offered under the IPO has been fixed at Rs.52/- per equity share, which was close to the lower end of a price band of Rs.51/- to Rs.59/- per equity share. The IPO, which closed for subscription on July 29, 2011, had received a commendable response and was oversubscribed around 5.3 times, with a splendid 9.61 times oversubscription in the Retail Category.

JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited and HSBC Securities and Capital Markets (India) Private Limited were the joint global co-ordinators as well as Book Running Lead Managers to the Issue. Barclays Securities (India) Private Limited and Credit Suisse Securities (India) Private Limited too were book running lead managers, while Equirus Capital Private Limited was the co-book running Lead Manager to the Issue

The company intends to use the proceeds of the issue to augment the capital base of L&T Finance and L&T Infra to meet the capital requirements arising out of expected growth in their assets, primarily the loan portfolio, and for other general corporate purposes. JM Financial, Citigroup and HSBC are among the book running lead manager to the issue

1 comment:

  1. Hello,

    I have applied for L&T IPO which has issued in Last month end. After one week of IPO closure, there is no response and the amount from my account was in lien account. Last Monday the amount in lien balance was credited to my main balance.

    What may be the reason?
    Are they rejected my bid? (I have bid for maximum cut-off price Rs59)

    Can anyone clarify me?

    -Partha

    ReplyDelete

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