Larsen & Toubro Ltd plans offer for sale of up to 30 lakh shares of L&T Technology Services

Larsen and Toubro Ltd plans to sell up to 30 lakh shares of L&T Technology Services, representing 2.89 per cent of its total paid up equity share capital.

The floor price of the offer has been fixed at be Rs 1,610 per share, according to a regulatory filing by the company.

"...the seller (Larsen & Toubro Ltd) proposes to sell up to 3,000,000 equity shares representing 2.89 per cent of the total paid up equity share capital of the company (L&T Technology Services Ltd) of face value of Rs. 2 each on January 30, 2019 (for non-retail investors only) and on January 31, 2019 (for retail investors and for non-retail investors who choose to carry forward their unallotted bids)," it said.

There is also an option to additionally sell 25.9 lakh equity shares (an over subscription option) representing 2.49 per cent of the total paid up equity share capital of the company, it added.

The shares of L&T Technology Services closed at Rs 1689.80 per share on BSE on Tuesday, 1.03 per cent lower than the previous closing.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)