Corporate Announcement
Security Code : 540005    Company : LTIM    
 
Notice of Offer for Sell of Shares by Promoter & Floor PriceDownload PDF
  Exchange Disseminated Time     31/08/2018 17:56:53
Larsen & Toubro Ltd (the "Seller") has submitted to BSE a copy of proposed Offer for sale up to 59,00,000 equity shares representing 3.41% of the total paid up equity share capital of Larsen & Toubro Infotech Ltd ("the Company") of face value of Re. 1 each (“Base Offer Size”) on September 03, 2018 (“T Day”) (for non-Retail Investors only) and on September 04, 2018 ("T+1 Day") (for Retail Investors and for Non-Retail Investors who choose to carry forward their un-allotted bids), with an option to additionally sell 46,27,288 equity shares representing 2.67% of the total paid up equity share capital of the Company (the “Oversubscription Option” and in event the Oversubscription Option is exercised, the equity shares forming part of the Base Offer Size and the Oversubscription Option will, collectively, hereinafter be referred to as “Offer Shares”. In case the Oversubscription Option is not exercised, the equity shares forming part of the Base Offer Size will hereinafter be referred to as “Offer Shares”), through a separate, designated window of the BSE Limited (the “BSE”) and the National Stock Exchange of India Limited (“NSE”, and together with the BSE, the “Stock Exchanges”).

The Offer shall be undertaken exclusively through the Seller’s Brokers named below on a separate window provided by the Stock Exchanges for this purpose.

- Dates and time of the opening and closing of the Offer :

The Offer shall take place over two trading days, as provided below:

For Non-Retail Investors: September 03, 2018 (“T Day”)

The Offer shall take place during trading hours on a separate window of the Stock Exchanges on T Day i.e. September 03, 2018, commencing at 9:15 a.m. and shall close on the same date at 3:30 p.m. Indian Standard Time.

The Non-Retail Investors may indicate their willingness to carry forward their un-allotted bids to T+1 Day (defined below) for allocation to them in the unsubscribed portion of Retail Category (defined below).

Only Non-Retail Investors shall be allowed to place their bids on T Day, i.e. September 3, 2018.

For Retail Investors (as defined below) and Non-Retail Investors (as defined below) who choose to carry forward their bids: September 04, 2018 (“T+1 Day”)

The Offer shall continue to take place during trading hours on a separate window of the Stock Exchanges on T+1 (it being September 4, 2018) commencing at 9:15 a.m. and shall close on the same date at 3:30 p.m. Indian Standard Time.

Only Retail Investors (as defined below) shall be allowed to place their bids and revise their bids only on T+1 Day. Further, those investors other than Retail Investors (“Non-Retail Investors”) who have placed their bids on T Day and have chosen to carry forward their bids to T+1 Day, shall be allowed to revise their bids on T+1 Day as per the SEBI OFS Circulars.

(T Day and T+1 Day collectively referred to as “Offer Dates”)

- Date and time of declaration of floor price (“Floor Price”)

The floor price of the Offer shall be Rs. 1700 per equity share of the Company.
 

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