The initial public offering of L&T Finance Holdings was subscribed 0.46 times or 45.78% till 1740 hours on the first day of the issue yesterday.
The company's IPO received bids worth 9.82 crore shares against 21.45 crore shares on offer, according to data available with the exchanges.
Of this 31% of the bids were at cut-off price.
L&T Finance Holdings, which plans to raise about Rs.1, 250 crore through the issue, has set the price band at Rs.51-59 a share.
The subscription will close on July 29.
The company offers a discount of Rs.2 for its employees.
The company had raised about Rs.153 crore from anchor investors at an average price of Rs.56 a share. (Anchor investor means a qualified institutional buyer making an application for a value of ten crore rupees or more in a public issue made through the book building process in accordance with ICDR Regulations. (Issue of Capital and Disclosure Requirements))
ANCHOR INVESTORS
The anchor investors, which subscribed to the IPO, are Malaysia's Tioman Investments (Khazanah), DSP Blackrock and Capital International.
L&T's stake in the company would come down to 83% from 95.94%
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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