IRB Infra files papers for IPO

IRB Infrastructure Developers filed its draft red herring prospectus (DRHP) with Sebi yesterday for its initial public offering (IPO) of 5,10,57,666 shares of Rs 10 each.

IRB Infrastructure Developers is the holding company of the IRB Group. The company will invest the net proceeds of the issue in its subsidiary, IDAA, and re-pay existing loans of the company and subsidiaries.

Deutsche Bank, Hong Kong branch, Jade Dragon (Mauritius) (a
subsidiary of Goldman Sachs) and CPI Ballpark Investments (a subsidiary of Merrill Lynch ) hold 3.85% stake each in the company.

Deutsche Equities India is the book running lead manager and Kotak Mahindra Capital company is the co-book running lead manager to the
issue.