L&T Infotech IPO: Foreign investors bid heavily

Initial Public Offering (IPO) of L&T Infotech kicked off Monday with foreign investors taking interest in subscribing to shares of the company. 

National Stock Exchange (NSE) data showed that by 12.27 pm, 50.32 lakh shares were subscribed by FIIs. This is 1.44 times the shares allocated for FIIs. 

Interestingly, no domestic institutional investor (DIIs) have come forward to apply for any share in the company. 

Out of the 26.25 lakh shares for the non-institutional category, only 32.920 shares was subscription by 12.27 pm. 

Retail investors subscribed to 10.74 lakh shares as against their quota of 61.25 lakh shares.