IRB INfrastructure IPO Open Today at a Price Band of Rs.185 to Rs.220

IRB Infrastructure Developers, an infrastructure and construction company in India with extensive experience in the roads and highways sector and currently involved in 12 BOT projects in this sector, is open for subscription with a public issue of 5,10,57,666 equity shares of Rs 10 each through 100% book building process.

The issue closes on February 5, 2008 and the price band is at Rs 185 to Rs 220 per equity share of Rs 10 each.

The issue will constitute 15.36% of the fully diluted post-issue equity share capital of the company. The equity shares are proposed to be listed on the BSE and the NSE. The company filed a red herring prospectus with the registrar of companies on January 14, 2008 .


Deutsche Equities India Private Ltd is the sole global coordinator and BRLM for the issue and Kotak Mahindra Capital Co. Ltd is the Co-BRLM for the issue.

The company proposes to utilize the net proceeds of the issue for investment in subsidiary IDAA; prepayment and repayment of existing loans of the company and the subsidiaries Aryan Toll Road Pvt. Ltd, Modern Road Makers Pvt. Ltd, Thane Ghodbunder Toll Road Pvt. Ltd, NKT Road & Toll Pvt. Ltd and Mhaiskar Infrastructure Pvt. Ltd.

IRB Infrastructure Developers is currently involved in 12 BOT projects in the roads and highways sector. Out of these projects, 11 projects are in the operational phase, i.e., engineering, procurement and construction phases have been completed on these projects and the project SPVs are currently earning revenues from toll collection under the relevant concession agreements.

Currently, the company's land reserves consist of approximately 925 acres of land in the Mauje Taje and Mauje Pimploli Taluka in Pune district, and it intends to acquire an additional approximately 475 acres of land for its proposed township project.

In fiscal 2007, the consolidated total income of the company was Rs 325.08 crore and it earned consolidated net profit, as restated, of Rs 29.96 crore. In the five months ended August 31, 2007, consolidated total income was Rs 285.26 crore and it earned consolidated net profit, as restated, of Rs 36.38 crore in this period.

Source: MOneycontrol

Management


Virendra D. Mhaiskar > Chairman of the Board, Managing Director Officer
Since: 09/07/2007 Age: 36

Madhav H. Kale > Chief Finance Officer Officer Since: 02/2007 Age: 53

Dhananjay K. Joshi > Chief Operating Officer, Compliance Officer Age: 33

Naresh K. Taneja > Vice President of Human Resources Age: 53

Deepak D. Gadgil > Vice President - Procurement and Asset Management
Officer Since: 06/01/2007 Age: 51

Ajay P. Deshmukh > Chief Technology Officer Age: 40

Mehul N. Patel > Company Secretary Officer Since: 05/21/2007 Age: 33

Deepali V. Mhaiskar > Whole-time Director Officer Since: 09/07/2007 Age: 34

Dattatraya P. Mhaiskar > Whole-time Director Officer Since: 09/07/2007 Age: 69

Suresh G. Kelkar > Whole-time Director Officer Since: 09/07/2007 Age: 69

3rd Floor, IRB Complex, Chandivli Farm, Chandivli Vill, Andheri (East)
Mumbai, 400 072
IND +91-22-66404220 (Phone)
+91-22-66751024 (Fax)
Company website:
http://www.irb.co.in/