IL&FS Transportation Networks IPO
IL&FS Transportation Networks IPO — date, price band, lot size & details 2010
IL&FS Transportation Networks listed on 30 Mar 2010 at ₹266.6, 3.3% above the ₹258 issue price.
IL&FS Transportation Networks is one of the largest private sector BOT road operators in India, developing and running highways, roads and bridges. Its total income was Rs 227.68 crore in FY2009.
Stock price
IL&FS Transportation Networks is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 11 Mar 2010
- Close 15 Mar 2010
- Allotment 24 Mar 2010
- Refund/credit TBA
- Listing 30 Mar 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 15 Mar, 2010 |
|---|---|
| Price Band | ₹242 – ₹258 |
| Face Value | ₹10 |
| Lot Size | 25 Shares |
| Issue Size | ₹700 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,450 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 25 shares at the ₹258 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 25 | ₹6,450 |
| Retail (max) | 31 | 775 | ₹1,99,950 |
| S-HNI (min) | 32 | 800 | ₹2,06,400 |
| S-HNI (max) | 155 | 3,875 | ₹9,99,750 |
| B-HNI (min) | 156 | 3,900 | ₹10,06,200 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Its portfolio covered 16 road projects of about 8,875 lane km.
- 02About 3,601 lane km were already in operation and maintenance.
- 03Profit after tax was Rs 114.35 crore in the six months to 30 September 2009.
- 04Rs 500.00 crore of the fresh issue went to repaying debt.
- 05Net worth rose from Rs 624.00 crore in FY2007 to Rs 872.77 crore on 30 September 2009.
Risks · 5
- 01Total borrowing rose from Rs 138.07 crore in FY2007 to Rs 999.00 crore on 30 September 2009.
- 02Total income dipped from Rs 249.87 crore in FY2008 to Rs 227.68 crore in FY2009.
- 03About 5,274 lane km were still under development, so toll income from them was some way off.
- 04BOT road returns depend on traffic and toll rules set by government agencies across 16 projects.
- 05Promoter holding fell from 85.09% before the issue to 75.09% after it.
Three years of numbers
All figures in ₹ crore, as reported in the IL&FS Transportation Networks offer document.
| Metric | 30 Sep 2009 | 31 Mar 2009 | 31 Mar 2008 | 31 Mar 2007 |
|---|---|---|---|---|
| Assets | 2,013.99 | 1,625.77 | 1,253.32 | 830.61 |
| Total Income | 326.16 | 227.68 | 249.87 | 164.91 |
| Profit After Tax | 114.35 | 42.07 | 76.54 | 46.17 |
| NET Worth | 872.77 | 811.54 | 781.17 | 624.00 |
| Reserves and Surplus | 701.36 | 595.13 | 564.76 | 416.51 |
| Total Borrowing | 999.00 | 719.00 | 388.16 | 138.07 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the IL&FS Transportation Networks RHP.
Where the money goes
₹589.61 Cr of the issue is earmarked to named objects.
IL&FS Transportation Networks IPO Anchor Investors
17 anchor investors across 6 fund houses committed ₹126.00 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It develops, operates and maintains national and state highways, roads, flyovers and bridges. Its portfolio covered 16 road projects of about 8,875 lane km, of which 3,601 lane km were in operation and 5,274 lane km under development.
In March 2008 it began international operations by acquiring Elsamex S.A., a provider of highway maintenance services.
The IPO was Rs 700 crore, with Rs 589.61 crore of fresh issue and Rs 110.39 crore of offer for sale by Trinity Capital (Two). Most of the fresh money was for repaying debt.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
IL&FS Transportation Networks IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
HSBC Securities & Capital Markets (India) Pvt. Ltd.
34 issues handledBest listing: Gujarat State Petronet (+72.2%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Axis Capital
256 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Nomura Financial Advisory & Securities (India) Pvt. Ltd
37 issues handledBest listing: Happiest Minds Technologies (+110.8%). Weakest: Shriram Properties (-23.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of IL&FS Transportation Networks?
The current Grey Market Premium is ₹0.
What is the IL&FS Transportation Networks IPO price band?
₹242 to ₹258, on a face value of ₹10.
When is the allotment?
The basis of allotment is 24 March 2010, with listing on 30 March 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
