IL&FS Transportation Plans to Raise Rs 700 cr, IPO to Opens on March 11

Submitted by Deepak Tiwari on Mon, 03/08/2010 - 22:20

IL&FS Transportation Plans to Raise Rs 700 cr, IPO to Opens on March 11India's IL&FS Transportation Networks Ltd. is revealed to be in plans to raise 7 billion rupees ($154 million) through an initial public offering of 4.28 million shares.

The company today in a statement announced that its Rs. 7 billion initial public offer (IPO) will open on March 11, and close on March 15.

The company has reportedly filed its red herring prospectus with the Registrar of Companies, Maharashtra on March 4, and the issue will open on March 11.

The offer is revealed to include fresh issue of equity shares by the company along with an offer for sale of 42.78 lakh shares by Trinity Capital.

Enam Securities, Nomura Financial Advisory and Securities (India) and JM Financial Consultants are the book running lead managers to the issue, whereas Avendus Capital and SBI Capital Markets are co-book running lead managers.

Also, the company has fixed the price band of its IPO in the bracket of Rs. 100 and Rs. 110 per share. At the upper end of price bracket, the firm would be successful in raising over Rs 116.6 crore, while at the lower end the IPO is valued worth Rs. 106 crore.


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