On Friday, L&T Technology Services raised Rs. The initial share sale of L&T Technology Services Ltd, excluding the anchor allotment, was subscribed 17.8% on the first day of the three-day offering. As of 5.15pm on Monday, the IPO had received applications for 1.29 million shares, against 7.28 million on offer, stock exchange data showed. On Friday, L&T Technology Services raised Rs268.32 crore by selling shares to anchor investors. As part of a business restructuring and consolidation exercise, L&T transferred the product engineering services of L&T Infotech and its integrated engineering services to form L&T Technology Services.

Source: Mint September 12, 2016 12:27 UTC