JM Financial Successfully Leads the OFS by Larsen & Toubro in L&T Technology Services

JM Financial Institutional Securities Ltd. ("JM Financial") successfully concluded Rs 790 Crs Offer for Sale ("OFS") by Larsen & Toubro Limited in L&T Technology Services Limited,

JM Financial acted as the 'Manager to the Offer and Sole Selling Broker'

JM Financial's deep understanding of the company helped it appropriately position the company in front of the investors which resulted in the issue receiving strong demand. Throughout the course of the transaction, JM Financial provided seamless end-to-end handholding to the management. Despite volatile market conditions and the recent run-up in the stock price, the deal saw a 1.4x coverage with a majority of demand coming in from marquee Domestic Mutual Funds and Insurance companies, with JM Financial contributing to 59% of the aggregate demand.

This OFS further extends JM Financial's undisputed distribution franchise in the equity capital markets.

JM Financial Franchise Update

  • JM Financial has been ranked No. 2 for FY2018 till date in the equity capital market league table by Prime Database.
  • One of India's most active Investment Banking and Capital Markets franchise.
  • Post this OFS, JM Financial has successfully completed 34 Equity Capital Markets transactions worth -USD 14 Bn since April 2016.

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