L&T Infotech IPO

300px-L&T_Infotech_logo

Established in 1996, L&T Infotech offers an extensive range of IT services to its clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hitech and consumer electronics and automotive and aerospace. In 2014, NASSCOM ranked it the sixth largest Indian IT services company in terms of export revenues. Its clients comprise some of the world’s largest and well-known organisations, including 41 of the Fortune Global 500 companies.

Headquartered in Mumbai, L&T Infotech leverages the strengths and heritage of its promoter, Larsen & Toubro Limited, a leading Indian conglomerate in engineering, construction, manufacturing, finance and technology. Besides India, L&T Infotech provides services globally and the percentage of its revenue from continuing operations from North America, Europe, Asia Pacific and the rest of the world amounted to 68.6%, 17.9%, 2.4% and 6.9%, respectively. As of June 30, 2015, it had 22 Delivery Centres and 42 sales offices globally.

Competitive strengths of the company are as following:

1. Strong domain focus enabling Business-to-IT Connect
2. Strong parentage and brand equity of our Promoter
3. Established long-term relationships with our clients
4. Extensive portfolio of IT services and solutions
5. Focus on emerging technologies
6. Track record of established processes and executing large, end-to-end, mission critical projects
7. Strong management culture
8. Conducive work environment to attract and retain talent

Company Promoters:

The Promoter of the Company is Larsen & Toubro Limited. L&T currently holds 161,250,000 Equity Shares, equivalent to 94.96% of the pre-Offer issued, subscribed and paid-up Equity Share capital of L&T Infotech.

Company Financials:

Particulars For the year/period ended (in Rs. Million)
31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13 31-Mar-12
Total Assets 29,068.71 25,058.09 21,893.69 19,814.75
Total Revenue 48,331.83 45,628.48 36,301.56 29,685.54
Profit After Tax (PAT) 7,735.97 9,032.57 5,599.83 4,059.27

Objects of the Issue:

The objects of the offer are to:

1. achieve the benefits of listing the Equity Shares on the Stock Exchanges; and
2. carry out the sale of up to 17,500,000 Equity Shares by the Selling Shareholder.

Issue Detail:

»»  Issue Open: Jul 11, 2016 – Jul 13, 2016
»»  Issue Type: Book Built Issue IPO
»»  Issue Size: 17,500,000 Equity Shares of Rs 1 aggregating up to Rs 1,400.00 Cr
›  Fresh Issue of 0 Equity Shares of Rs 1 aggregating up to Rs [.] Cr
›  Offer for Sale of 17,500,000 Equity Shares of Rs 1 aggregating up to Rs [.] Cr
»»  Face Value: Rs 1 Per Equity Share
»»  Issue Price: Rs. 705 – Rs. 710 Per Equity Share
»»  Market Lot: 20 Shares
»»  Minimum Order Quantity: 20 Shares
»»  Listing At: BSE, NSE

Rs 10 Discount to Retail Individual Bidders