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IL&FS Transportation raises Rs 126 crore

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BS Reporter

Toll road operator IL&FS Transportation, which plans to raise around Rs 700 crore through its initial public offering (IPO), has placed shares worth Rs 126 crore with anchor investors such as Reliance Mutual Fund, Axis Mutual Fund and Sundaram BNP Paribas Mutual Fund.

Other anchor investors which have shown interest in the issue are Royal Bank of Scotland, HDFC Mutual Fund, JF India Fund, Nomura Mauritius, Ward Ferry Management and Jupiter South Asia Investment Co. The company has placed 4.88 million shares with anchor investors at Rs 258 per piece. The IPO was subscribed 33 per cent on its opening day today, according to data on the National Stock Exchange (NSE). The issue received bids for 7.85 million shares as against 23.71 million shares on offer.

 

The price band has been fixed at Rs 242-258 per share. The issue closes on March 15. IL&FS Transportation intends to use the proceeds for repaying loans and expansion.

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First Published: Mar 12 2010 | 12:38 AM IST

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