IRB Infra fixes issue price at Rs 185/sh

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IRB Infrastructure Developers has fixed the issue price at Rs 185 per equity share.

The company's IPO was subscribed over 4.3 times. The QIB portion was subscribed 6.4 times and HNI 1.6 times. The retail and employee portions were too nearly fully subscribed at 0.99 and 0.94 times. Deutsche Equities India Private Ltd is the Sole Global Coordinator and BRLM for the Issue and Kotak Mahindra Capital Co. Ltd is the Co-BRLM for the issue.

IRB Infrastructure had entered the capital markets on January 31, 2008 with a public issue of 5,10,57,666 equity shares of Rs 10 each through 100% book building process and with a price band of Rs 185 to Rs 220.

The issue constituted 15.36% of the fully diluted post Issue paid-up capital of the Company. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

IRB Infrastructure Developers Limited is the holding company of the IRB Group. IRB Infrastructure Developers is currently involved in 12 BOT projects in the roads and highways sector.

In fiscal 2007, the consolidated total income of the company was Rs 325.08 crore and it earned consolidated net profit, as restated, of Rs 29.96 crore. In the five months ended August 31, 2007, consolidated total income was Rs 285.26 crore and it earned consolidated net profit, as restated, of Rs 36.38 crore in this period.