• Rajasthan

    Cong 101
    BJP 80
    RLM 0
    OTH 15
  • Madhya Pradesh

    Cong 112
    BJP 95
    BSP 5
    OTH 8
  • Chhattisgarh

    Cong 53
    BJP 26
    JCC 9
    OTH 1
  • Telangana

    TRS-AIMIM 82
    TDP-Cong 25
    BJP 6
    OTH 6
  • Mizoram

    MNF 25
    Cong 10
    BJP 1
    OTH 4

* Total Tally Reflects Leads + Wins

L&T Technology Services makes strong debut on bourses; lists at 7% premium against issue price of Rs 860

By: | Updated: September 23, 2016 5:13 PM

L&T Technology Services made a strong debut on bourses on Friday as the scrip got listed at a premium of 7 per cent at Rs 920 on NSE

BSE SENSEX, NSE NIFTYL&T Technology Services made a strong debut on bourses on Friday as the scrip got listed at a premium of 7 per cent at Rs 920 on NSE (Photo: Reuters)

L&T Technology Services made a strong debut on bourses on Friday as the scrip got listed at a premium of 7 per cent at Rs 920 on NSE against the issue price of Rs 860. The public offer was opened for subscription from September 12 to September 15 and was oversubscribed by 2.53 times. On BSE, shares of the company listed at Rs 900, up nearly 5 per cent against the issue price.

However, shares of the company closed on a flat note at Rs 860.55 on NSE against the issue price. On BSE, the scrip settled the day at Rs 865.10.

L&T Technology Services is a subsidiary of engineering conglomerate Larsen & Toubro and was incorporated in June 2012. The company had fixed a price band of Rs 850-860 per share. AM Naik, group chairman of Larsen & Toubro believes that L&T Technology Services will become a $1 billion company by 2021.

L&T Technology Services is the second firm from L&T group that hit equity markets with an IPO since July, when L&T Infotech had launched a public offer. Holding company Larsen and Toubro is already listed on bourses. The company provides innovative engineering as well as research and development services across sectors, has revenues
of nearly $500 million.

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