L&T Infotech IPO
L&T Infotech IPO — date, price band, lot size & details 2016
L&T Infotech listed on 21 Jul 2016 at ₹667, 6.1% below the ₹710 issue price.
Larsen & Toubro Infotech is a Mumbai based IT services subsidiary of Larsen & Toubro, among the largest Indian IT exporters. Its total income was Rs 5,908.13 crore in FY2016.
Stock price
L&T Infotech is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 11 Jul 2016
- Close 13 Jul 2016
- Allotment 19 Jul 2016
- Refund/credit TBA
- Listing 21 Jul 2016
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 13 Jul, 2016 |
|---|---|
| Price Band | ₹705 – ₹710 |
| Face Value | ₹1 |
| Lot Size | 20 Shares |
| Issue Size | ₹1236.38 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,200 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 20 shares at the ₹710 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 20 | ₹14,200 |
| Retail (max) | 14 | 280 | ₹1,98,800 |
| S-HNI (min) | 15 | 300 | ₹2,13,000 |
| S-HNI (max) | 70 | 1,400 | ₹9,94,000 |
| B-HNI (min) | 71 | 1,420 | ₹10,08,200 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 4,562.85 crore in FY2014 to Rs 5,908.13 crore in FY2016.
- 02Profit after tax rose from Rs 639.43 crore in FY2014 to Rs 938.13 crore in FY2016.
- 03It was the 6th largest IT company in India by export revenue.
- 04Total borrowing fell from Rs 203.64 crore in FY2015 to Rs 39.75 crore in FY2016.
Risks · 5
- 01IT services depend on overseas clients and the rupee; total assets were Rs 3,238.03 crore.
- 02It competes with larger Indian IT firms for clients; net worth was Rs 1,863.27 crore in FY2016.
- 03US visa rules can affect its costs and staffing; profit was Rs 772.96 crore in FY2015.
- 04The whole Rs 1,236.38 crore issue was an offer for sale, so none of it went to the company.
- 05Larsen & Toubro held 94.94% before the issue and 84.64% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the L&T Infotech offer document.
| Metric | 31 Mar 2016 | 31 Mar 2015 | 31 Mar 2014 |
|---|---|---|---|
| Assets | 3,238.03 | 2,906.87 | 2,505.81 |
| Total Income | 5,908.13 | 4,833.18 | 4,562.85 |
| Profit After Tax | 938.13 | 772.96 | 639.43 |
| NET Worth | 1,863.27 | ||
| Reserves and Surplus | 1,846.29 | 1,909.33 | 1,452.28 |
| Total Borrowing | 39.75 | 203.64 | 94.01 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the L&T Infotech RHP.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the L&T Infotech IPO will be updated shortly.
L&T Infotech IPO Anchor Investors
22 anchor investors across 10 fund houses committed ₹372.73 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It was ranked the 6th largest IT company in India by export revenue and among the top 20 IT service providers in the world.
It offers a wide range of IT services to clients in many industries worldwide. It now trades as LTM.
The IPO was Rs 1,236.38 crore and was entirely an offer for sale by Larsen & Toubro at Rs 710, the top of the Rs 705 to Rs 710 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
L&T Infotech IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
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Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of L&T Infotech?
The current Grey Market Premium is ₹0.
What is the L&T Infotech IPO price band?
₹705 to ₹710, on a face value of ₹1.
When is the allotment?
The basis of allotment is 19 July 2016, with listing on 21 July 2016.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
