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IL&FS Transportation IPO overbid 33 times
The initial public offering (IPO) of IL&FS Transportation Networks (ITNL), which closed today, has seen overwhelming response. It has subscribed 33.42 times so far, as per data available on the NSE website.
The initial public offering (IPO) of IL&FS Transportation Networks (ITNL), which closed today, has seen overwhelming response. It has subscribed 33.42 times so far, as per data available on the NSE website.
The issue received bids for 79.26 lakh equity shares as against issue size.
Qualified institutional investors' were the leading subscribers in this issue; their reserved portion got oversubscribed 52.61 times. Retail and non-institutional investors' portion subscribed 39.39 times and 4.56 times, respectively.
The company had received a committment of Rs 126 crore from anchor investors (AIs), which subscribed at Rs 258, at lower end of price band of Rs 242-258 per share.
ITNL was incorporated by IL&FS (an infrastructure development and finance company) in 2000, in order to consolidate their existing road infrastructure projects and to pursue various new project initiatives in the area of surface transportation infrastructure.
The offer for sale will include 42.8 lakh shares by Trinoka Trinity Capital (a UK-based fund), which will be Rs 110 crore at Rs 258 per share.
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