L&T Tech offer-for-sale opens today; stocks down 1%
L&T Tech,
in a press note to the exchanges, informed that the offer-for-sale of
L&T Technology Services by Larsen & Toubro will open for
subscription to the public on Tuesday (for non-retail investors only).
Notably, shares of the company declined 1% on Tuesday.
"The non-retail investors may indicate their willingness to carry forward their un-allotted bids to T+1 Day for allocation to them in the unsubscribed portion of retail category," the company said in a press note after markets hours to the exchanges on M
onday.
OFS will open for subscription on June 6 (Thursday) for retail investors and for non-retail investors who choose to carry forward their unallocated bids.
L&T plans to sell up to 40.34 lakh shares of L&T Technology, representing 3.88% of the total paid-up equity share capital of the latter. The floor price has been fixed at Rs1,650 a share, the company added.
"The non-retail investors may indicate their willingness to carry forward their un-allotted bids to T+1 Day for allocation to them in the unsubscribed portion of retail category," the company said in a press note after markets hours to the exchanges on M
onday.
OFS will open for subscription on June 6 (Thursday) for retail investors and for non-retail investors who choose to carry forward their unallocated bids.
L&T plans to sell up to 40.34 lakh shares of L&T Technology, representing 3.88% of the total paid-up equity share capital of the latter. The floor price has been fixed at Rs1,650 a share, the company added.
L&T Technology Services Ltd's share price is currently at Rs1,700,
down by Rs23.75 or 1.38%, from its previous close of Rs1,723.75 on the
BSE.
The scrip opened at Rs1,699 and has touched a high and low of
Rs1,707.55 and Rs1,685.15, respectively. So far, 61,988 (NSE+BSE) shares
have been traded on the counter. The current market cap of the company
is Rs17,930.71cr.
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