Pranam,
NEW DELHI:L&T Finance Holdings today said it has fixed the issue price at Rs 52 a share for itsinitial public offering (IPO).
"While the IPO received good demand at different price points within the price band, to reciprocate the confidence that over 600,000 applicants have placed in us we decided to price the issue at Rs 52," L&T Finance Holdings Chairman Y M Deosthalee said in a company release.
The price band for L&T Finance Holdings' initial public offer, which remained for subscription for three days since July 27, was fixed between Rs 51-Rs 59.
The IPO received subscriptions aggregating to a demand in excess of Rs 5,800 crore.
"We are happy with the demand that the issue generated amongst all categories of investors, particularly given the market volatility," Deosthalee said.
Most of the proceeds from the IPO will be pumped into its five subsidiaries-- L&T Infrastructure Company, L&T Finance, India Infrastructure Developers, L&T Investment Management and L&T Mutual Fund Trustees.
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