L&T Technology Services IPO is set to hit the capital markets on September 12, 2016 with its IPO till September 15, 2016. The Price Band for L&T Technology Services IPO is fixed at Rs. 850 to Rs.860 per equity shares with a face value of Rs. 2 per share. In all, 10.4 million shares will be on offer to make issue size of Rs. 900 crore approx. If you are planning to apply for this IPO, please see details for the same here below.
The company had filed a draft red herring prospectus (DRHP) to the hit the capital market with an Initial public offering to raise Rs. 894.40 crore by selling 1.04 crore shares.
Approx. 36.40 lakh shares will be allotted to the retail category. While, 15.60 lakh shares will be set for the non-institutional segments Further, 52 lakh shares of the quota limit will be placed for qualified institutional buyers (QIB). Anchor investors will be allotted up to 21.20 lakh shares and rest 20.80 lakh shares to other QIBs. The reservation for mutual fund will be approx. 1.04 lakh shares.
Company Profile:
The company was incorporated in 2012 and based in Mumbai, India. Larsen & Toubro limited is the parent company of the firm which is an expert for its technology, engineering, construction, manufacturing and finance. L&T Technology and Service company is working as a service provider of third party in the field of Engineering, Research and Development. It has occupied a wide area in domestic and international market. The company receives 80% of its revenue from the customers in North America and Europe. The firm deals mainly in the segment of transportation, industrial products, telecom and hi-tech, process industry and medical devices which are engaged to deliver as an important component of G500 ER&D spend. M2M connectivity, IoT, engineering analytics and power electronic are the core facilities or services as offered by the company.
The company is awarded as a “leadership zone” by Zinnov ‘s GSPR rating in 2015. The company is providing its services in a network of delivery centers located across the United states of America. It is available from its customers locations in India. It has 12 global delivery centers across India and overseas, 27 sales offices in India North America, Europe, the Middle East and Asia and 31 labs in India.
Below are the company’s five broad segments for its business:-
- Transportation
- Industrial Products
- Telecom and Hi-tech
- Process Industry
- Medical Services
Outlook of the Firm:
- Established as a global pure play ER&D Services firm
- Run an expertise multi-vertical industry with long-standing customer relationships
- Focused to drive an innovation through in-house R&D, IP and strategic alliances
- Expertise and Focus L&T parentage and long history of engineering
- Highly Qualified and experienced management team
Objects Of The Issue: L&T Technology Services IPO
1) To achieve the benefits of listing the Equity Shares on the Stock Exchanges; and
2) To carry out the sale of up to 10,400,000 Equity Shares by the Selling Shareholder.
3) To increase its investments in innovation labs along with focusing towards its expansion for geographical footprint through selective acquisitions.
Summary Of Issue: L&T Technology Services IPO
| Issue Open:- | Sep 12,2016-Sep 15,2016 |
| Issue Type | 100% Book Built Issue IPO |
| Issue Size (Shares) | [10,400,000]Equity Shares |
| Issue Size in (Value) | Equity Shares of Rs. 2 aggregating up to Rs. [894.40] Crore |
| Face Value | Rs. 2 Per Equity Share |
| Issue Price | Rs. [850 to Rs. 860] Per Equity Share |
| Market lots | 16 Shares |
| Minimum Order Quantity | 16 Shares |
| Listing At | BSE, NSE |
Promoters Of the Company:
The Promoter of the Company is Larsen & Toubro Limited. L&T currently holds 101,690,392 Equity Shares (including six Equity Shares held jointly with six individuals as nominees of our Promoter), equivalent to 100% of the pre-Offer issued, subscribed and paid-up Equity Share capital of L&T Technology Services.
Financials:
| Particulars | For the year/Period ended (Rs. in Million) | |||
| Financial Year | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 |
| Total Equity & Liabilities | 18227.27 | 17144.82 | 6368.91 | 0.50 |
| Total Assets | 18227.27 | 17144.82 | 6368.91 | 0.50 |
| Total Revenue | 29694.04 | 25856.22 | 1222.00 | – |
| Total Expenses | 23616.31 | 21562.86 | 1065.99 | 0.03 |
| Profit After Tax (PAT) | 4342.36 | 3151.77 | 62.14 | (0.03) |
Subscription figures for L&T Technology Service IPO
| Shares Offered / Reserved | Day 1 – Sep 12, 2016 | Day 2 – Sep 14, 2016 | Day 3 – Sep 15, 2016 7PM | |
| QIB | 2,080,000 | 0.28 | 1.1 | 5.01 |
| NII | 1,560,000 | 0.02 | 0.03 | 1.03 |
| Retail | 3,640,000 | 0.19 | 0.77 | 1.74 |
| Total | 7,280,000 | 0.18 | 0.71 | 2.52 |
Allotment Status for L&T Technology Service IPO
Please keep looking for this space for Allotment details after the closure of Issue. One can check the Allotment details with either PAN number or Application number or DP Client Id on the link given below.
All you need to follows are these steps.
- Go to the given link Allotment Status link here
- Select IPO as L&T Technology Service IPO
- Enter your PAN or Application No. or DP Client Id
It may take few seconds so be little patient. If you have not got the shares, please check the basis of allotment here on this link
Listing Date for L&T Technology Service IPO
Please keep looking for this space for the information update. Generally listing date is one week after the closure date of IPO.
Lead Manager L&T Technology Services IPO
Kotak Mahindra Capital Company Limited
1st Floor, 27 BKC, Plot No. 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Tel: (91 22) 4336 0000 Fax: (91 22) 6713 2447
E-mail: ltts.ipo@kotak.com
Website: http://investmentbank.kotak.com
Investor grievance e-mail: kmccredressal@kotak.com
Contact person: Ganesh Rane
SEBI Registration No.: INM000008704
DSP Merrill Lynch Limited
Ground Floor, A Wing, One BKC, G Block, Bandra Kurla Complex
Bandra (East), Mumbai 400 051
Tel: (91 22) 6632 8000 Fax: (91 22) 2204 8518
E-mail: dg.lnttechnologyservices_ipo@baml.com
Website: www.dspml.com
Investor grievance e-mail: dg.india_merchantbanking@baml.com
Contact person: Saransh Shringi
SEBI Registration No.: INM000011625
JM Financial Institutional Securities Limited
7th Floor, Cnergy Appasaheb, Marathe Marg Prabhadevi, Mumbai 400 025
Tel: (91 22) 6630 3030 Fax: (91 22) 6630 3330
E-mail: l&ttech.ipo@jmfl.com
Website: www.jmfl.com
Investor grievance e-mail: grievance.ibd@jmfl.com
Contact person: Lakshmi Lakshmanan
SEBI Registration No.: INM000010361
SBI Capital Markets Limited
202, Maker Tower ‘E’ Cuffe Parade, Mumbai 400 005
Tel: (91 22) 2217 8300 Fax: (91 22) 2218 8332
E-mail: ltts.ipo@sbicaps.com
Website: www.sbicaps.com
Investor grievance e-mail: investor.relations@sbicaps.com
Contact person: Nithin Kanuganti/ Nikhil Bhiwapurkar
SEBI Registration No.: INM000003531
Registrar To The L&T Technology Services IPO
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli
Financial District, Nanakramguda, Hyderabad 500 032
Tel: (91 40) 6716 2222 Fax: (91 40) 2343 1551
Email: einward.ris@karvy.com
Website: https://karisma.karvy.com
Investor Grievance e-mail: l&ttechnology.ipo@karvy.com
Contact Person: M. Murali Krishna
SEBI Registration No: INR000000221
Registered Office Details:-
L&T House, N.M. Marg, Ballard Estate, Mumbai 400 001;
Tel: (91 22) 6752 5656; Fax: (91 22) 6752 5893
Corporate Office: 5th Floor, West Block-II, L&T Knowledge City (IT/ITES) SEZ,
N.H. No. 8, Ajwa Waghodia Crossing, Vadodara 390 019;
Tel: (91 265) 670 5000/ (91 265) 670 5001; Fax: (91 265) 670 5955
Contact Person: Kapil Bhalla, Company Secretary and Compliance Officer
E-mail: investor@LntTechservices.com;
Website: www.lnttechservices.com/
Corporate Identity Number: U72900MH2012PLC232169
