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Lanco Infra IPO poll: Experts say apply
Lanco Infratech is open for subscription with an initial public offering of 4,44,72,381 equity shares of Rs 10 each for cash at a price to be decided through the 100% book-building process. Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts said apply.
Lanco Infratech, an infrastructure development company with interests in power generation, construction and property development, is open for subscription with an initial public offering, IPO of 4,44,72,381 equity shares of Rs 10 each for cash at a price to be decided through the 100% book-building process.
The issue closes on November 10, 2006. Price Band for the IPO is between Rs 200 and Rs 240 per equity share.
Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts said apply.
Experts/Company
Poll Result
Experts view
R S Iyer
(KR Choksey)
Apply
Lanco Infratech is a good issue. Investors can apply for this issue.
Manish Bhatt
(Prabhudas Lilladher)
Apply
Investors should apply for Lanco Infratech IPO. It is an excellent issue.
SP Tulsian
(Investrment Advisor)
Apply
Retail investors can apply for Lanco Infratech but at lower price band. It is a good issue.
The company along with its subsidiaries and Lanco Kondapalli operates 518 MW of power plants. In addition the company is implementing various power projects aggregating to 3275 MW of power generating capacity in various geographies of India.
The company has entered into a MoU with the Government of Orissa to set up a 2 x 660 MW power plant in the State of Orissa.
In the property development business, the company owns or has won bids to develop approximately 19.5 million square feet of saleable area, comprising of a 100 acre integrated IT park & township and a 21.8-acre residential development, both located in Hyderabad. In addition the company has won a bid to develop an IT Park and township on a 10.7 acre plot on which it proposes to develop 2 mn sq ft of saleable area, in Visakhapatnam in the State of Andhra Pradesh.
The part of the Issue proceeds are to be deployed to capitalize the company's subsidiaries which are at various stages of development, for subscribing to the equity of the Nagarjuna Power Project, payment for acquisition of 13.3% equity stake in Aban Power and payments to Globeleq for the acquisition of its 25.1% equity stake in Lanco Kondapalli.
The shares will be listed on the Bombay Stock Exchange and the National Stock Exchange.
The Book Running Lead Managers to the offering are JM Morgan Stanley, Enam Financial Consultants, ICICI Securities and Kotak Mahindra Capital Company.
