Showcasing a strong demand from the investors, the initial public offer (IPO) of L&T Finance Holdings cited an oversubscription by 5.19 times on the final day of issue on Friday.

Aiming to raise Rs. 1,245 crore, the company's IPO actually received bids for 111.2 crore shares against 21.45 crore shares that were put on offer ranging from range of Rs 51 to Rs 59 a piece, revealed the data available on National Stock Exchange till 1800 hours.

Also, the data showed that QIB bidder's portion was oversubscribed by 1.93 times, non-institutional investor's segment was subscribed by 6.13 times and the left portion for retail investors was subscribed by 8.64 times.

Upon seeing the figures, the market experts while commenting about the good response from the investors said that offer was attractively priced.

L&T Finance is aiming high to mop up Rs 1,245 crore from the capital market and thus the company has plans to issue 21.10 crore shares under the IPO and post-listing whereas parent Larsen & Toubro's (L&T) stake in the company would come down to 83 per cent from its present 95.94 per cent stake.

The plans have also revealed that the IPO proceeds will be pumped into five L&T subsidiaries including L&T Infrastructure Company, L&T Finance, India Infrastructure Developers, L&T Investment Management and L&T Mutual Fund Trustees.