Larsen trims L&T Tech stake in Rp6.7bn OFS

Indian conglomerate Larsen and Toubro is selling-down a batch of shares in subsidiary L&T Technology Services and is looking to raise at least Rp6.65bn ($96.2m).

  • By Jonathan Breen
  • 04 Jun 2019

The parent launched an offer-for-sale of 4.03m secondary shares, equal to 3.88% of L&T Tech’s equity capital, on Tuesday. The shares have a floor price of Rp1,650 each, but as of midday Tuesday in Mumbai bids had pushed the price to Rp1,651.4.

The two-day offering is split 90%-10% ...

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