Larsen & Toubro (L&T), an engineering and construction conglomerate, announced that Larsen & Toubro Infotech, a subsidiary of Larsen & Toubro, has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on Sept. 28, 2015 in order to undertake an initial public offering of its equity shares (issue).

The issue comprises of an offer for sale of up to 17.5 million equity shares of the face value Rs. 1 each by Larsen & Toubro.

Shares of the company gained Rs 25.95, or 1.81%, to trade at Rs 1,456.05. The total volume of shares traded was 331,236 at the BSE (1.20 p.m., Tuesday).