Larsen & Toubro Infotech Limited (the “Company”) proposes to open on July 11, 2016, its public offer of up to 17,500,000 equity shares of face value of Re. 1 each (the “Equity Shares”) for cash at a price band from Rs. 705 to Rs. 710 per Equity Share through an offer for sale (the “Offer”) by the promoter, Larsen & Toubro Limited (the “Selling Shareholder”). The Offer would constitute 10.30% of the post-offer paid-up Equity Share capital of the Company. The Offer will close on July 13, 2016. A discount of Rs. 10 per equity share will be offered to retail individual bidders on the Offer Price.
Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. The Company and the Selling Shareholder may, in consultation with the Book Running Lead Managers (the “BRLMs”), consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI Regulations”). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date.
The BRLMs to the Offer are Citigroup Global Markets India Private Limited, Kotak Mahindra Capital Company Limited & ICICI Securities Limited.
The Equity Shares offered through the Offer are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”). For the Offer, NSE shall be the Designated Stock Exchange.
The Offer is being made in accordance with Regulation 26(1) of the SEBI Regulations, through the Book Building Process wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”),provided that our Company and the Selling Shareholder may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI Regulations. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Offer Price.
Larsen & Toubro Infotech Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the red herring prospectus dated June 28, 2016 (the “RHP“) with the Registrar of Companies, Maharashtra at Mumbai. The RHP is available on the websites of SEBI and Stock Exchanges at www.sebi.gov.in, www.bseindia.com and www.nseindia.com, respectively, and is also available on the websites of the Book Running Lead Managers at www.online.citibank.co.in/
These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.