IL&FS Transportation Networks IPO Analysis

IL&FS Transportation Networks Ltd. (ITNL) was formerly known as Consolidated Transportation Networks Limited and changed its name to IL&FS Transportation Networks Limited in September 2005. It is an established surface transportation infrastructure comp any, and is one of the largest private sector BOT (Build Operate Transfer) road operators in India.

ITNL has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

ITNL generate revenues primarily from Elsamex's, a provider of maintenance services primarily for highways and roads in Spain and other countries, maintenance business and from annuity receipts, toll collection, operation and maintenance activities and advisory and project management fees from BOT road projects.

Some of the renowned completed and operating projects of the company include North Karnataka Expressway, NOIDA Toll Bridge, West Gujarat Expressway. Gujarat Toll Roads.

Issue Objectives

• Funding pre-payment and repayment of a portion of debt availed by the Company while the proceeds from the Offer for Sale will not received by the company

IPO Grading / Rating
ICRA has assigned an IPO Grade 4 indicating above average fundamentals.

Issue Open: Mar 11, 2010 - Mar 15, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: Equity Shares of Rs. 10
Issue Size: Rs. 700 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 242 - Rs. 258 Per Equity Share
Market Lot: 25 Shares
Minimum Order Quantity: 25 Shares
Listing At: BSE, NSE

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