L&T Technology Services got listed on the BSE today at Rs.900 and this was at a 5% premium over the issue price of Rs.860/share.

This issue from the stables of L&T has got subscribed 2.52 times, receiving bids for 1.83 crore shares.

L&T's stake in L&T Technology Services has fallen to 89.77% from 100% earlier after the L&T Technology's IPO.

We, in our New Issue Analysis had not given it a positive review, based on the poor show of its earlier listed peer, L&T Infotech as well as unattractive pricing in the current issue, coupled with negative sentiments now prevailing for IT stocks, leaving little-to-no room for appreciation. This is a listing gain; it is sustainability which will be key.