IL&FS Transportation Networks has garnered about Rs 126 crore from several anchor investors under its initial public offer which opened for bidding today, 11 March 2010. The company has roped in several anchor investors, including Reliance Capital Trustee Co, Axis Mutual Fund, Sundaram BNP Paribas Mutual Fund, Royal Bank of Scotland, HDFC Trustee Co, JF India Fund, Nomura Mauritius, Ward Ferry Management and Jupiter South Asia Investment Co. Shares have been allotted to the anchor investors at the top end of the Rs 242-258 per share price band.
IL&FS Transportation Networks (ITNL), promoted by IL&FS (Infrastructure Leasing & Financial Services), is an established surface transportation infrastructure developer providing end-to-end solutions for BOT (build, operate and transfer) road projects. The company intends to utilise the proceeds from the IPO for repayment of loans and for future expansion plans.