L&T Infotech IPO fully subscribed

L&T Infotech’s initial public offering (IPO) was fully subscribed on the first day of the issue. According to cumulative data available on NSE, the IPO received bids for 1.51 crore shares against the issue size of 1.22 crore shares. A total of 71.84 lakh bids were received at the cut-off price.

The retail portion was fully subscribed with bids for 84.47 lakh shares against the reserved portion of 61.25 lakh shares.

The non-institutional portion, however, did not receive a good response with only nearly 20% of the shares which were reserved getting bids. Of the 26.25 lakh shares reserved for the non-institutional portion, bids were received only for 5.04 lakh shares.