L&T Technology Services Ltd. debuted on the bourses at Rs 931 per share, a premium of 8.3 percent from its issue price of Rs 860 per share.
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As of 10:10 a.m. the stock is trading at Rs 896 per share, 4.2 percent above its issue price.
In terms of volume, 19.30 lakh shares of the company were traded on BSE and over 80 lakh shares changed hands on NSE during the day.
The company commands a market valuation of Rs 8,797.24 crore. The face value of the share is Rs 2 and the shares were allotted on Wednesday to the applicants.
Meanwhile, shares of Larsen & Toubro ended flat at Rs 1,496.80, down 0.15 per cent as also Larsen & Toubro Infotech which fell by 0.11 per cent to Rs 637.10 on BSE.
It was the second company from the L&T stable to hit the market with an IPO since July, when L&T Infotech had launched its public offer.
The public offer was opened for subscription from September 12 to September 15 and was oversubscribed by 2.53 times.
Larsen & Toubro (L&T) has landed a $99.7-million contract from Vietnam Border Guard to design, construct and supply high-speed patrol vessels. The price band for the offer was fixed at Rs.850-860.
L&T Technology Services is a pure-play engineering, research and development services company formed after L&T restructured its engineering services division in January 2014.
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L&T said the contract also includes the transfer to Vietnam of the design and related technologies as well as equipment and materials that will enable the construction of follow-on vessels at an unspecified Vietnamese shipyard.
