<p> L&T Infotech, which is the sixth largest Indian IT services company, will hit the primary market on Monday.<br /><br /></p>.<p>The Initial Public Offer (IPO) will open on July 11 and close on July 13, its public offer of up to 17,500,000 equity shares of face value of Re 1 each for cash at a price-band from Rs 705 to Rs 710 per equity share.<br /><br />“L&T Infotech will not enjoy the proceeds of the issue as this will be an offer for sale, and the sale amount will go to L&T,” said officials.<br /><br />Sanjay Jalona, CEO and MD of L&T Infotech, said they do not see any impact of Brexit. “It could be an opportunity for IT companies. Around 17% of our revenues come from Europe,” he said.<br /><br />Ashok Sonthalia, CFO of L&T Infotech, said the employee headcount increased from 17,627 in FY14, to 20,072 in FY16, and that its PAT CAGR is 18.2% (2014-16). The executives pointed out the huge market opportunity ahead for the company.<br /><br />Earlier, speaking about the company, S N Subrahmanyan, President and Deputy Managing Director, L&T, said the company is working with 248 clients including 49 Fortune 500 clients. Close to 47% of its revenues comes from the BFSI (Banking, Financial Services and Insurance) sector.<br /></p>
<p> L&T Infotech, which is the sixth largest Indian IT services company, will hit the primary market on Monday.<br /><br /></p>.<p>The Initial Public Offer (IPO) will open on July 11 and close on July 13, its public offer of up to 17,500,000 equity shares of face value of Re 1 each for cash at a price-band from Rs 705 to Rs 710 per equity share.<br /><br />“L&T Infotech will not enjoy the proceeds of the issue as this will be an offer for sale, and the sale amount will go to L&T,” said officials.<br /><br />Sanjay Jalona, CEO and MD of L&T Infotech, said they do not see any impact of Brexit. “It could be an opportunity for IT companies. Around 17% of our revenues come from Europe,” he said.<br /><br />Ashok Sonthalia, CFO of L&T Infotech, said the employee headcount increased from 17,627 in FY14, to 20,072 in FY16, and that its PAT CAGR is 18.2% (2014-16). The executives pointed out the huge market opportunity ahead for the company.<br /><br />Earlier, speaking about the company, S N Subrahmanyan, President and Deputy Managing Director, L&T, said the company is working with 248 clients including 49 Fortune 500 clients. Close to 47% of its revenues comes from the BFSI (Banking, Financial Services and Insurance) sector.<br /></p>
