Lanco Infratech IPO opens on Nov 6

Hyderabad, Oct 30 (UNI) Lanco Infratech Ltd, an infrastructure development company with interests in power generation, construction and property development, is entering the capital market with an Initial Public Offering (IPO) of 44,472,381 equity shares of Rs 10 each for cash at a price to be decided through the 100 per cent book-building process to be conducted on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The issue opens for subscription/bids on November six, 2006 and closes on November 10, 2006. Price Band for the IPO is between Rs 200 and Rs 240 per equity share, a company release said here today.

Lanco Infratech Ltd proposes to reserve upto 500,000 equity shares for allotment to its eligible employees and subsidiaries.

Thus, the net offer to the public would be of 43,972,381 equity shares.

The net issue would constitute 19.78 per cent of the fully diluted post issue paid-up equity capital of the company.

Of the net offer to the public, at least 60 per cent of the offering will be allocated to Qualified Institutional Buyers on a proportionate basis, five per cent of which will be available for allotment to mutural funds registered with the Securities and Exchange Board of India.

Up to 10 per cent of the offering will be available for allocation to non-institutional investors and up to 30 per cent of the offering will be available for allocation to retail investors on a proportionate basis.

The company along with its subsidiaries and Lanco Kondapalli operates 518 MW of power plants. It is also implementing various power projects with 3,275 MW of power generating capacity in various geographies of India.

Whilst the Company has been active in southern India, in recent years it is pursuing the development of the following power projects in various states.

UNI SM JJ 1925