L&T To Divest Stake In L&T Technology Services Via OFS

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Larsen & Toubro in an exchange filing said that the company may consider selling 41 lakh equity shares that equates to 4% of paid-up capital of L&T Technology Services for as much as Rs. 1,400 for a share.

    L&T To Divest Stake In L&T Technology Services Via OFS

    Additionally, the company said, in case of over-subscription in the proposed offer for sale or OFS, there exists an option to sell 25 lakh more shares of L&T's technology entity to the public.

    Also, after the proposed offer for sale goes through successfully, engineering and construction major's stake in the technology firm will go down from 81.54% currently to 77.54%. And in case, the over-subscription clause applies then the stake may further go down to 75.10%.

    The offer for sale for the non-retail investor category will open on August 2 i.e. today via the stock exchange mechanism. For other categories, including retail investors and non-retail investors that carry forward their allotted bids on August 3.


    Read more about: l ampt ofs
    Story first published: Thursday, August 2, 2018, 10:44 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more