L&T Technology Surges On Debut, Lists At Premium

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Shares of L&T Technology Services, an arm of engineering giant Larsen and Toubro (L&T), made a strong debut on the Bombay Stock and opened at Rs 900 apiece against an issue price of Rs 860, listing at a premium of around 5 per cent.

L&T Technology Surges On Debut, Lists At Premium

"The equity shares of L&T Technology Services Ltd (Scrip Code: 540115) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities," the company said in a filing to BSE.

The company has received overwhelming response for its Rs 900-crore initial public offering (IPO). This is the second company from the L&T Group to hit the market with an IPO since July, when L&T Infotech had launched a public offer

After making a strong debut, shares of company were trading at Rs 895.65 apiece, up 4.15 per cent against issue price, on Bombay Stock Exchange.

In a similar fashion, stocks of company were trading at Rs 897.05 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,750.24, down 24.44 points, or 0.08 per cent at 11:00 hours.

Read more about: larsen and toubro
Story first published: Friday, September 23, 2016, 12:40 [IST]
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