L&T Fin fixes IPO price band at Rs 52

The IPO,which had a price band of Rs 51-59 a share,attracted over six lakh applications from across the category of investors.

“We are happy with the demand that the issue generated amongst all categories of investors given the market volatility. While the IPO received good demand at different price-points,to reciprocate the confidence that over 6,00,000 applicants have placed in us,we decided to price the issue at Rs 52 a share,” L&T Finance Holdings chairman and L&T Group chief financial officer Y M Deosthalee said.

“On the launch day,the market shed nearly a percent,while on the previous day,it had tanked by 353 points following the RBI’s rate shocker,” he said.