The
IRB infrastructure developers IPO was introduced recently. The company has decided to use the fund for the completion as well as expansion of different projects, which are currently on its palette. The article below reveals details of the IRB infrastructure developers IPO.
Having a sound record in "Build Operate Transfer" (BOT) area, IRB Infrastructure Developers Ltd is engaged in a business of infrastructural development projects. Building, developing and operating the projects fall within the purview of their business. Presently engaged in about 12 "build operate transfer" projects, the company is a holding company belonging to the IRB clan.
Recently, the company introduced equity shares for the public by launching IPO(initial public offer).
Details of the Issue:
Important dates:
The equity shares introduced by the company opened on 31st January, 2008. IRB infrastructure developers decided to close availability of shares to the people on 5th February, 2008.
Listing of equity shares:
The shares were listed on the BSE or Bombay Stock Exchange as well as the NSE or the National Stock Exchange.
Type of Issue:
The Issue was introduced by a process of 100% Book Building.
Size of the Issue:
In terms of the number of shares:
The IRB infrastructure developers IPO had equity shares of size 51,10, 57,666. The shares were of Rs 10 each.
In terms of the value:
The equity shares were worth Rs 1,123 crores.
Price of the Issue:
The Issue price ranged between Rs 185 to Rs 220(per equity share).
Lead Managers of the IRB infrastructure developers IPO:
The lead managers of the company's Issue are:
- Kotak Mahindra Capital Company Limited.
- Deutsche Equities India Private Limited
For retail buyers:
In case of retail buyers, the maximum amount for which they could subscribe was Rs 100,000.
Objectives of the IRB infrastructure developers IPO:
The business strategy of the company demands that from time to time, the company bid for different projects in infrastructural development. In the event when the company succeeds in these bids, they form SPVs or "Special Purpose Vehicles", in order to complete the projects related to infrastructural development. The SPVs become the subsidiaries of the company. So, the company intends to utilize the fund raised from the IPO for equity investments via these subsidiaries.