L&T Infotech only IPO trading below issue price this year
The disappointment in listing was led by weak earnings reported by large IT services companies, which made investors cautious on L&T Infotech which was preparing itself on exchanges.
2016 is turning out to be a good year for medium- and long-term investors in the Indian stock markets. However, shareholders of L&T Infotech has become the odd one out.
Out of shares of ten companies listed in the current year, it is only L&T Infotech which is trading below its issue price.
Also, where other companies opened at a premium from their issue price on Indian markets, L&T Infotech opened on a discount from the upper price band issued.
The disappointment in listing was led by weak earnings reported by large IT services companies, which made investors cautious on L&T Infotech which was preparing itself on exchanges.
Here's how Larsen & Toubro Infotech performed compared to other IPO listed.
Recently, L&T Infotech reported consolidated net profit of Rs 235.8 crore, a rise of 35% from Rs 174.7 crore in the corresponding period of the previous year.
Dilip Buildcon too has been listed at a premium of 10% on August 10, while SP Apparels got listed at 14% premium from its issue price on August 12,2016.
Together these ten companies have raised a collective of Rs 8234 crore.
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