IRB Infrastructure to raise Rs 1,100 cr via IPO

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New Delhi, Jan 24 (UNI) Infrastructure and construction company IRB Infrastructure Developers Ltd today said it plans to raise about Rs 1,100 crore from its initial public offer (IPO) with over 5.10 crore shares of Rs 10 each.

The issue, to be decided through 100 per cent book building process, opens on January 31 and closes on February 5.

''The net proceed of the issue will be used for repayment of loans of the company and its subsidiaries, investment in the projects, and tracking future opportunities,'' company Chairman and Managing Director V D Mhaiskar told reporters here.

The Mumbai-based firm has set a price band of 185 to 220 rupees a share.

The issue will constitute 15.36 per cent of the fully diluted post-issue equity share capital of the company.

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

UNI MP SR AS2129

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