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Larsen & Toubro unit aims to raise nine billion rupees from IPO

MUMBAI (NewsRise) -- Larsen & Toubro aims to raise as much as nine billion rupees ($134 million) through an initial share sale of its unit L&T Technology Services, as India's largest engineering company seeks to benefit from surging investor appetite for assets in Asia's third largest economy.

The IPO is the second from India's biggest builder of roads and power stations in barely two months. In July, Larsen's software arm L&T Infotech saw demand for its $180 million share offering jump 11 times more than the number of stocks offered.

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