L&T Info IPO gets 1­mn applications

NEW DELHI: L&T Infotech’s ₹1,243-crore initial public offering (IPO), which was oversubscribed nearly 12 times, attracted more than one million applications, the

NEW DELHI: L&T Infotech’s ₹1,243-crore initial public offering (IPO), which was oversubscribed nearly 12 times, attracted more than one million applications, the highest for any share sale offer in at least five years. Eliciting robust response, the qualified institutional buyers (QIBs) category witnessed 19.91 times over-subscription. The non-institutional investors segment was oversubscribed 10.76 times and retail investors’ portion 7.39 times. L&T Infotech attracted 1.058 million applications, the largest number of applications in IPOs since 2011, according to market analysts. From 2011 till date, L&T Infotech is the first one to attract million applications.

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