L&T Technology Services Limited allots 31.2 lakh equity shares to anchors at Rs. 860 per equity share aggregating to Rs. 268.32 crore

Initial Public Offer to open on Monday, September 12, 2016 and will close on Thursday, September 15, 2016
Price Band fixed from Rs.850 to Rs.860 per equity share
L&T Technology Services Limited (the “Company”) has finalized the allocation of 31,20,000 equity shares to anchor investors at Rs. 860 per equity share (upper end of the Price Band) aggregating to Rs. 268.32 crore.

Anchor investors allotment is as follows: Sundaram Mutual Fund - 9.31%; DSP Blackrock Focus 25 Fund (7.08%), FIL Investments (Mauritius) Ltd. - 6.71%; Blackrock India Equities (Mauritius) Ltd. – 6.71%; Parvest Equity World Emerging – 6.71%; JP Morgan Funds – 4.84%; JP Morgan India Smaller Companies Fund – 1.86%; Oaktree Emerging Markets Mauritius Holdings Ltd. – 2.34%; Vanguard Emerging Markets Select Stock Fund – 2.36%; National Pension Service managed by Oaktree Capital Management LP – 6.11%; HDFC Trustee Company Ltd. – 7.08%; ICICI Prudential Life Insurance Company Ltd. – 6.98%; Canara Robeco Mutual Fund – 7.08%; Tata Mutual Fund – 4.66%; Integrated Core Strategies Asia Pte Ltd. – 2.67%; Indus India Fund (Mauritius) Ltd. – 2.67%; Copthall Mauritius Investment Ltd. – 7.83%; Macquarie Emerging Markets Asian Trading Pte Ltd. – 1.87%; and Morgan Stanley Company Ltd. – 5.13%.

5 Mutual Funds have applied through a total of 15 schemes as follows: Sundaram Mutual Fund A/C Sundaram Select Midcap - 6.15%; Sundaram Mutual Fund A/C Sundaram Monthly Income Plan - Aggressive Plan; Sundaram Mutual Fund - Sundaram Balanced Fund - 0.37%; Sundaram Mutual Fund A/C - Sundaram Select Small Cap Series - II - 0.56%; Sundaram Mutual Fund A/C - Sundaram Select Small Cap Series - III - 0.37%; Sundaram Mutual Fund A/C - Sundaram Select Small Cap Series - IV - 0.37%; Sundaram Mutual Fund A/C - Sundaram Infrastructure Advantage Fund - 1.12%; DSP Blackrock Focus 25 Fund - 7.08%; HDFC Trustee Company Limited - HDFC Tax Saver Fund - 7.08%; Canara Robeco Mutual Fund A/C Canara Robeco Emerging Equities - 3.10%; Canara Robeco Mutual Fund A/C Canara Robeco Equity Tax Saver - 2.07%; Canara Robeco Mutual Fund A/C Canara Robeco Equity Diversified Fund - 1.92%; Tata Digital India Fund - 0.16%; Tata Trustee Co. Ltd. A/C Tata Mutual Fund A/C Tata Mid Cap Growth Fund - 2.25%; and Tata Trustee Co. Ltd. A/C Tata Mutual Fund A/C Tata India Tax Savings Fund - 2.25%.

The Company proposes to open on Monday, September 12, 2016, its initial public offer of up to 10,400,000 equity shares of face value of Rs. 2 each (the “Equity Shares”) for cash at a price band from Rs. 850 to Rs. 860 per Equity Share through an offer for sale (the “Offer”) by the promoter of the Company, Larsen & Toubro Limited (the “Selling Shareholder”). The Offer would constitute 10.2% of the post-offer paid-up Equity Share capital of the Company. The Offer will close on Thursday, September 15, 2016.

Bids can be made for a minimum of 16 Equity Shares and in multiples of 16 Equity Shares thereafter.

The BRLMs to the Offer are Kotak Mahindra Capital Company Limited, DSP Merrill Lynch Limited, JM Financial Institutional Securities Limited and SBI Capital Markets Limited.

The Equity Shares offered through the Offer are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”).

The Offer is being made in accordance with Regulation 26(1) of the SEBI Regulations, through the Book Building Process wherein 50.0% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company and the Selling Shareholder may allocate up to 60.0% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI Regulations. Post allocation to Anchor Investors, the QIB Portion will be reduced by such number of Equity Shares. 5.0% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15.0% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35.0% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks (“SCSBs”), to participate in this Offer.