L&T Finance IPO Subscription Status & Listing Date

Initial public offer by L&T Finance Holdings has achieved a great response from all types of investors. It is seen that the retail sector bought highest amount of the offer. According to data available at the National Stock Exchange, issue has actually subscribed 5.34 times on its very last date.

 

Reserved part of the retail investors was actually subscribed 9.61 times and the non institutional portion got 6.18 times subscribed, with the qualified institutional investors having 1.93 times. The company now aims of mopping up Rs 1092 Crores through this issue. It is important to note that the parent company stake will be lowered down to 83 percent after the issue.

 

Majority bids were observed at lower side of rate band of Rs 51 to 59 as some specialists felt that issue was a bit highly priced. Another reason might be the pre IPO placement of around Rs 330 crores was at the rate of Rs 55 per share while the anchor book of Rs 153 crores was subscribed at the rate of Rs 56 per share.

L&T FInance

 

The company looks forward to use the issue money to augment capital base L&T Infra and L&T Finance in order to meet capital needs of expected growth in assets, mainly the loan portfolio.

Issue Listing date is not yet announced but its going to be somewhere around 12th to 15th of this month.