L&T InfoTech is expected to make a tepid debut on the Bourses tomorrow. Despite a reasonable pricing at the time of IPO, many considered it not an exciting opportunity and preferred to stay away. With IT stocks tanking considerably, the little edge enjoyed by the scrip has vanished to the point that finally Rs. 10/- discount given to retail investors may prove to be their saviour from a Listing Loss. Two more mid size IT companies Nucleaus software & KPIT delivered poor numbers.
L&T Info tech IPO is set for a weak listing on account of subdued result from IT majors like Infosys & Wipro. The second rung IT companies like Mindtree, NIIT Technologies have also reported poor numbers. With most of these scrips down by almost 10%, the grey marker premium of 60-70 Rs. earlier commanded by L&T Infotech is likely to severely affected.