Public issue of L&T Finance Holdings - a subsidiary of engineering & construction major Larsen and Toubro - has been fully subscribed on Day 2.
It has been receiving bids from all kinds of investors - within that retail investors look quite supportive. Reserved portion of retail investors too have been fully subscribed.
The price band of Rs 51-56 (instead of actual Rs 51-59) has been attracting majority of the bids as pre-IPO placement of Rs 330 crore & Rs 153 crore investment via anchor book had done at Rs 55 & Rs 56, respectively.
The issue has been received bids for more than 22.5 crore equity shares against tentative issue size of 21.45 crore shares.
L&T Finance Holdings aims to raise Rs 1092 crore through this issue, which will close for subscription tomorrow.
It is a financial holding company offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors, as well as mutual fund products and investment management services, through direct and indirect wholly-owned subsidiaries.
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