Roman Tarmat Listing on Monday, 9 July 2007

Roman Tarmat will list on BSE and NSE on Monday, 9 July 2007. It will be placed in the B1 group on BSE. The company had fixed the IPO price at the top end of the Rs 150 - 175 price band.

At the IPO price of Rs 175, the PE multiple is 22.43, based on the year ended March 2006 EPS of Rs 7.8.

Roman Tarmat IPO ended on 19 June 2007 with 29.67 times subscription. The issue received total bids for 8.60 crore shares compared to total issue size of 29 lakh shares.

The total bids in the Qualified Institutional Buyers (QIBs) category were 3.84 crore shares. From this category, the Foreign Institutional Investors bid for 2.86 crore shares, Domestic Financial Institutions bid for 73.75 lakh shares and Mutual Funds bid for 20.88 lakh shares.

The Non Institutional Investors bid for 2.60 crore shares, out of 4.20 lakh shares allotted for this category.

The retail individual investors bid for 2.13 crore shares. From this, 2.01 crore shares were bid at cut off price and 11.87 lakh shares were price bids. The employees bid for 75,000 shares.

Roman Tarmat is a Mumbai-based infrastructure company engaged in the business of highways, runways and other civil work.

The company, established in 1986, provides engineering, procurement and construction services for infrastructure projects sponsored by Government/Government agencies.

Broadly, the business activities can be categorised into the following three segments: airside works; highways and roads; and other civil work. The company is one of the few construction companies in India operating in the area of construction of runways, which requires a strict focus on quality to ensure safe take off and landing of aircrafts.

Over the years, it has developed the expertise of building runways that adhere to the strict quality standards and has built runways for major civil airports (Mumbai and New Delhi airports) as well as military airports.

The order book comprising un-commenced projects, unfinished and uncertified portions of its commenced projects, as on 30 April 2007, was Rs 336.89 crore.

The company posted a net profit was Rs 8.50 crore in FY 2006, as compared to Rs. 3.67 crore in FY 2005. Total income of Rs 90.94 crore in FY 2006, as compared to Rs 77.30 crore in FY 2005.