Lanco Infratech IPO price band between Rs 200 and Rs 240

Mumbai, Oct 30 (UNI) Lanco Infratech, an infrastructure development company, has fixed the price band for an initial public offering (IPO) through book-building route scheduled for November 6, 2006 between Rs 200 and Rs 240 per equity share.

Briefing newsmen here today, its Executive Chairman L.Madhusudan Rao said IPO envisages issue of 44.472,381 equity shares of Rs 10 each, of which 5 lakh equity shares were reserved for allotment to employees in the company and its subsidiaries. In effect, the net issue would constitute 19.78 per cent of the fully diluted post issue paid-up equity capital of the company, he said.

Replying to a question, Mr Rao said the part of the issue proceeds were to be deployed to capitalize the company's subsidiaries which were at various stage of development, for subscribing to the equity of the Nagarjuna Power Project, payment for acquisition of 13.3 per cent equity stake in Aban Power and payments to Globeleg for the acquisition of its 25.1 per cent equity in Lanco Kondapalli.

The Book Running Lead Managers to the offering were JM Morgan Stanley, Enam Financial Consultants, ICICI Securities and Kotak Mahindra Capital Company.

UNI SN ADG AW1631