IL&FS Transportation IPO opens on 11 March 2010

Price band fixed at Rs 242-Rs 258

IL&FS Transportation Networks, an infrastructure development player with a focus on road projects, is looking to raise Rs 700 crore from an initial public offer.

The offer opens for subscription on Thursday, 11 March 2010 and closes on Monday, 15 March 2010. IL&FS Transportation Networks has set Rs 242-Rs 258 per share price band for the initial public offer (IPO).

The offer consists of a fresh issue of equity shares by the company and an offer for sale of 42.78 lakh shares by Trinity Capital

The company intends to use the IPO proceeds for repayment of loan and to support its growth plans. The company has debt totaling Rs 1000 crore.

The company currently has an order book of Rs 10,300 crore in road and railway projects with a total of 19 projects in its portfolio of which 8 have been completed. It wishes to further diversify into the airport and urban mass transit space.