"One of the reasons for withdrawing the DRHP (draft red herring prospectus) was that market conditions were not right for the issue. It is possible that we may file a fresh DRHP at some future date, but we cannot offer a specific comment on the matter at this stage.”, according to L&T.
"One of the reasons for withdrawing the DRHP (draft red herring prospectus) was that market conditions were not right for the issue.”, according to L&T.
Larsen and Toubro Infotech Ltd, withdrew draft prospectus for initial public offering (IPO) to raise Rs.2,000 crore, according to reports.
"One of the reasons for withdrawing the DRHP (draft red herring prospectus) was that market conditions were not right for the issue.”, according to L&T.
The company had filed its draft prospectus with the markets regulator on September 28, 2015.
The firm was planning to sell 17.5 million shares in L&T Infotech via IPO.
The firm was planning to sell 17.5 million shares in L&T Infotech via IPO.
Larsen & Toubro Ltd is currently trading at Rs. 1223, up by Rs. 10.2 or 0.84% from its previous closing of Rs. 1212.8 on the BSE.
The scrip opened at Rs. 1215.95 and has touched a high and low of Rs. 1223 and Rs. 1208 respectively. So far 738688(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 112969.75 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1886.25 on 17-Jul-2015 and a 52 week low of Rs. 1016.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 1234.95 and Rs. 1177 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 54.76 % and 43.02 % respectively.
The stock is currently trading above its 200 DMA.
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