L&T Infotech raises Rs 372.75 crore from 22 anchor investors

MUMBAI: Ahead of the start of its three-day IPO on Monday, L&T Infotech has raised Rs 372.75 crore by allotting 52.5 lakh shares to 22 anchor investors at the upper end of its issue price band of Rs 705-710 per share.

The major anchor investors include Auburn, FIL Investments ( Mauritius), HDFC Trustee Co, Birla Sun Life Trustee Company, The New India Assurance Co, Prudential ICICI Technology Fund and Reliance Capital Trustee Co. Engineering conglomerate L&T is selling 10% in L&T Infotech through the IPO. This will fetch the company Rs 1,243 crore at the upper end of the price band.

Retail investors will get a discount of Rs 10 on the offer price. The IPO is entirely an offer for sale of shares by L&T. Citigroup Global Markets India, Kotak Mahindra Capital Company and ICICI Securities are the book running lead managers to the issue.