Infrastructure Development Finance Co IPO
Infrastructure Development Finance Co IPO — date, price band, lot size & details 2005
Infrastructure Development Finance Co listed on 12 Aug 2005 at ₹60, 76.5% above the ₹34 issue price.
Infrastructure Development Finance Company (IDFC) is a financial institution set up in 1997 to fund infrastructure projects in energy, transport and telecom. Its total income was Rs 727.60 crore in FY2005.
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 12 November.
- Open 15 Jul 2005
- Close 22 Jul 2005
- Allotment TBA
- Refund/credit TBA
- Listing 12 Aug 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 22 Jul, 2005 |
|---|---|
| Price Band | ₹29 – ₹34 |
| Face Value | ₹10 |
| Lot Size | 200 Shares |
| Issue Size | ₹1372.24 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,800 |
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 200 shares at the ₹34 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 200 | ₹6,800 |
| Retail (max) | 29 | 5,800 | ₹1,97,200 |
| S-HNI (min) | 30 | 6,000 | ₹2,04,000 |
| S-HNI (max) | 147 | 29,400 | ₹9,99,600 |
| B-HNI (min) | 148 | 29,600 | ₹10,06,400 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 458.90 crore in FY2003 to Rs 727.60 crore in FY2005.
- 02Profit after tax rose from Rs 179.90 crore in FY2003 to Rs 304.00 crore in FY2005.
- 03Net worth rose from Rs 1,552.30 crore in FY2003 to Rs 1,888.90 crore in FY2005.
- 04Total assets grew from Rs 3,963.00 crore in FY2003 to Rs 8,731.50 crore in FY2005.
Risks · 5
- 01Its largest single borrower was 22.7% and its largest borrower group 42.3% of its total capital funds.
- 02Energy, transport and telecom made up 86.9% of its exposure, so trouble in these sectors would hit it hard.
- 03Total borrowing rose from Rs 2,175.00 crore in FY2003 to Rs 6,545.10 crore in FY2005.
- 04Loans it agreed to take over could add to bad loans; Rs 964.24 crore of the issue went to selling shareholders.
- 05It had no identifiable promoter, so there was no controlling shareholder for a lender of Rs 8,731.50 crore in assets.
Three years of numbers
All figures in ₹ crore, as reported in the Infrastructure Development Finance Co offer document.
| Metric | 31 Mar 2005 | 31 Mar 2004 | 31 Mar 2003 |
|---|---|---|---|
| Assets | 8,731.50 | 5,926.00 | 3,963.00 |
| Total Income | 727.60 | 637.00 | 458.90 |
| Profit After Tax | 304.00 | 259.10 | 179.90 |
| NET Worth | 1,888.90 | 1,699.10 | 1,552.30 |
| Reserves and Surplus | 888.90 | 699.10 | 552.30 |
| Total Borrowing | 6,545.10 | 3,975.00 | 2,175.00 |
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 Infrastructure Development Finance Co RHP.
Where the money goes
How the company intends to use the proceeds of the issue.
About the company
It lends to and invests in infrastructure projects. As of 31 March 2005, energy, transportation and telecommunications made up 86.9% of its total exposure.
Its ten largest single borrowers made up 28.4% of its exposure and its ten largest borrower groups 50.6%.
The IPO was Rs 1,372.24 crore, with Rs 408.00 crore of fresh issue and Rs 964.24 crore of offer for sale, at Rs 34, the top of the Rs 29 to Rs 34 band.
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.
Infrastructure Development Finance Co 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.
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: New Delhi Television (+71.4%). Weakest: House of Pearl Fashions (-9.1%).
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 Infrastructure Development Finance Co?
The current Grey Market Premium is ₹0.
What is the Infrastructure Development Finance Co IPO price band?
₹29 to ₹34, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 12 August 2005.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies 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.
