IL&FS Trans ropes in anchor investors for Rs 126 cr

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The initial public offering (IPO) of IL&FS Transportation Networks (ITNL) has opened for subscription today. The company plans to raise upto Rs 700 crore through this issue, which will close on March 15.

It has already received a committment of Rs 126 crore from anchor investors (AIs). AIs subscribed for 48,83,720 equity shares at Rs 258 per equity share, at higher end of price band at Rs 242-258.

Anchor investors included Jupiter South Asia Investment, The Royal Bank of Scotland, PI Opportunities Fund, Reliance Capital Trustee, India Horizon Fund, HDFC Trustee Company, Ward Ferry Management, Axis Mutual Fund, Sundaram BNP Paribas Mutual Fund, JF India Fund, JF Eastern Smaller Companies Fund and Nomura Mauritius.

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.

The book running lead managers to the issue are Enam Securities, Nomura Financial Advisory and Securities and JM Financial. The co-BRLMs to the issue are SBI Capital Markets and Avendus Capital. The shares will be listed on both the BSE and the NSE.

Anchor Investor	Equity shares	% of Portion
Jupiter South Asia Investment Co. Ltd	62,984	1.3
The Royal Bank of Scotland PLC as trustee of Jupiter India Fund	188,954	3.9
PI Opportunities Fund I	251,938	5.2
Reliance Capital Trustee Co Ltd Reliance Infrastructure Fund	775,194	15.9
India Horizon Fund Limited	775,194	15.9
HDFC Trustee Company Ltd A/c HDFC MF Monthly Income Plan Long Term Plan	129,198	2.6
HDFC Trustee Company Ltd A/c HDFC Growth Fund	129,199	2.6
HDFC Trustee Company Ltd A/c HDFC Core Satellite Fund	129,199	2.6
Ward Ferry Management Ltd A/c WF Asian Smaller Company Funds Ltd	775,194	15.9
Axis Mutual Fund A/c Axis Equity Fund	229,035	4.7
Axis Mutual Fund A/c Axis Tax Saver Fund	22,903	0.5
Sundaram BNP Paribas Mutual Fund - Sundaram BNP Paribas Growth Fund	77,000	1.6
Sundaram BNP Paribas Mutual Fund A/c Sundaram BNP Paribas Select Thematic FD Capex Opportunities Fund - Growth	159,596	3.3
Sundaram BNP Paribas Mutual Fund A/c Sundaram BNP Paribas Select Thematic FDs Capex Opportunities - Dividend	151,000	3.1
JF India Fund	584,077	12
JF Eastern Smaller Companies Fund	191,117	3.9
Nomura Mauritius Ltd	251,938	5.2
Total	4,883,720