L&T Finance Holdings ' initial public issue, which closed for subscription on July 29, received subscriptions for more than 5 times its size, aggregating to a demand in excess of Rs 5800 crore. It is noteworthy that this IPO attracted over 6,00,000 applications into its fold.
The company announced the issue price of Rs 52 per equity share as against the price band of Rs 51 to Rs 59 per equity share.Y M Deosthalee, Chairman of L&T Finance Holdings said, “We are happy with the demand that the issue generated amongst all categories of investors, particularly given the market volatility. 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. In line with L&T Group’s philosophy, this indicates our intention to build a long and mutually beneficial relationship with our prospective shareholders.”
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