IL&FS Trans IPO overbid; should you invest?

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IL&FS Trans IPO overbid; should you invest?

The initial public offering (IPO) of IL&FS Transportation Networks (ITNL) has received good response from investors. It has been subscribed 1.86 times so far, as per data available on the NSE website.

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About the issue and company

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.