FirstChoice IPO Analysis: L&T group IPOs - pricing was wrong.
In the year 2016, there were 2 IPOs from the L&T stable. Larsen & Toubro Infotech Limited and L&T Technology Services Limited.
The first one priced its IPO at Rs 710 and the second one at Rs 860 a share.
Both have disappointed in the exchanges. L&T Infotech is trading at Rs 680, down Rs 30 and L&T Technology stock trading around Rs 805, down Rs 55.
Retail investors had lot of expectation from these 2 companies which has been belied.
BRLMs of the above IPOs should introspect. The pricing was very aggressive. Investors, particularly retail, have lost money. Most importantly there is loss of credibility for - both the group and the BRLMs.
Labels: L&T group IPOs - pricing was wrong.