How to Check L&T Infotech IPO Allotment Status
L&T Infotech's Rs 1,243-cr IPO oversubscribed 11.67 times
Have you applied for Larsen and Tubro (L&T) Infotech IPO and curious about status of the IPO allotment?. You got to be little patient as it is going to take little more time to know the L&T Infotech IPO Allotment status.
As per the rules pertaining to primary market (IPO), the shares of any company should be listed on stock exchanges like NSE and BSE for trading by 6th working day from the IPO issue close date. Going by this rule, as the L&T Infotech IPO issue closed on 13th July,
you can expect to know about your L&T Infotech IPO allotment status positively by 19th July 2016
Visit this page again by end of the above date to know about L&T Infotech IPO allotment Status
Expected listing of the L&T Infotech Shares on Exchanges for Trading is 21st July 2016
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Meantime why not look at some of the Frequently asked Questions about IPO allotment?
Who does the Allotment of the IPO?
Allotment of the IPO is done by the entity called the Registrar identified by the listing Company. Registrar for the L&T Infotech IPO is LINK INTIME INDIA Pvt Limited.
What is the Basis Of IPO Allotment?
The registrar allots the shares taking various factors into considerations such as extent of the issue subscribed, number of employees of the company applied for the IPO, required allotments to QIBs as per the rules etc. The registrar will publish the basis of the allotment within two weeks of the issue close date.
Currently, in any IPO, the allocation is usually, QIB – 50% HNI – 15% and Retail – 35% or QIB – 60% HNI – 10% and Retail – 30% of the Net Issue.
What documents I need to check the Allotment?
You can check about the allotment status by using your PAN number.
OK, I got the allotment, When it will be credited to my Demat Account?
Usually, it will credited to your demat account within 2 business days.
But I want to sell them on first day of the listing, I will loose this opportunity if credit of shares to my demat account is delayed!
Shares will not be listed until all the allotted investors receive the shares in their respective demat accounts. So dont worry and relax, but ensure that your demat account is active and ready state of receiving the shares.
What to do if you have been allotted shares, but you have not received the credit to your demat account?
If you have allotted the shares but not received in your demat account by listing day, then check that your demat account is active. If you feel there is no issue, provide a copy of your Client Master to Registrar to enable upload of your allotted shares in your account. Copy can be sent by Fax/Scanned image.
How do I get the Refund Amount back in case of non-allotment or partial allotment?
I depends on how you filled out your application form. You will receive physical refund order to your postal address or though ECS if you have opted for it with your Broker.
When will I get my Refund back?
The Registrar will dispatch/initiate the refund order/ECS transfer within 12 working days of issue close date. So add postal delay depending on your location to receive the physical order.
I have updated ECS details with my Broker, So will I receive refund through ECS?
Not always. It depends on the registrar and he can choose to send cheques even when ECS details are updated.
When can I start trading in the new shares?
Offcourse from the listing day! provided the shares are already credited to your demat account. But you can not trade off market in case you received the shares few days before the day of listing!.
L&T Infotech's Rs 1,243-cr IPO oversubscribed 11.67 times :-
L&T Infotech's Rs 1,243-crore IPO got oversubscribed 11.67 times today, eliciting strong response with the number of applications crossing 1 million on the final day.
The IPO received bids for 14,29,46,840 shares against the total issue size of 1,22,50,000 shares, data available with the NSE till 1930 hrs showed.
Quota reserved for qualified institutional buyers (QIBs) was oversubscribed 19.90 times, while that of HNI 10.75 times, sources said.
The category reserved for retail investors was also oversubscribed 7.30 times.
L&T Infotech has attracted 10.58 lakh or 1.058 million applications, the largest number of applications in IPOs since 2011, they added.
The offer was oversubscribed on the first day of the bidding itself.
L&T Infotech had fixed a price band of Rs 705-710 per share for the offering.
L&T Infotech had on Friday raised Rs 373 crore from anchor investors by selling shares at Rs 710 apiece.
The IPO comprises an offer-for-sale of up to 1.75 crore equity shares by L&T Ltd. It constitutes 10.3 per cent of the post offer paid-up equity share capital of the company.
At the upper end of the price band, the offer would be worth Rs 1,243.50 crore. The sale would rake in Rs 1,233.75 crore at Rs 705 per share.
Kotak Mahindra Capital Company, Citigroup Global Markets India and ICICI Securities are managing the issue.
In the financial year 2015-16, L&T Infotech's revenue from operations and other income stood at Rs 6,143.02 crore, while it clocked a profit after tax of Rs 922.17 crore during the same period.
L&T Infotech is the sixth largest Indian IT services player at present with a revenue of USD 887 million and an employee base of over 20,000 people.
Earlier this month, the Rs 400-crore IPO of staffing firm Quess Corp was oversubscribed a staggering 145 times, emerging as the most oversubscribed IPO in the past 9 years.
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