This is only an advertisement for
information purposes and not a prospectus announcement
IL&FS Transportation Networks Limited
Our company was incorporated under the companies Act 1956 on November
29, 2000 at Mumbai. Presently, the name of our company is "IL&FS Transportation
Networks Limited" pursuant to a special resolution of the shareholders of our
Company dated September 29,2005 and a fresh Certificate of incorporation granted to our
Company on October 18,2005 by the Registrar of Companies, Maharashtra, situated at
Murnbai. For further details in relation to the change in name of our Company, see the
section titled "History and Certain Corporate Matters" on page 145 of the
Prospectus.Registered and Corporate Office: The IL&FS Financial
Centre', Plot No. C 22, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051,
India Tel: + 91 22 2653 3333. Fax: +91 22 2652 3979. Contact Person and Compliance officer
Mr. Krishna Ghag: Tel.:+ 91 22 2653 3333: Fax:+ 91 22 2652 3979: Email: itnlinvestor@ilfsindia.com ; Websit: www.itnlindia.com
Promoter of the Company: Infrastructure Leasing & Financial Services Limited
PUBLIC ISSUE OF 27,131,782 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH
("EQUITY SHARES") OF IL&FS TRANSPORTATION NETWORKS LIMITED (THE
"COMPANY") FOR CASH AT A PRICE OF RS. 258 PER EQUITY SHARE (INCLUDING A SHARE
PREMIUM OF RS. 248 PER EQUITY SHARE) AGGREGATING UP TO RS. 7,000 MILLION (THE
"ISSUE") CONSISTING OF A FRESH ISSUE OF 22,852,938 EQUITY SHARES BY THE COMPANY
AND AN OFFER FOR SALE OF 4,278,844 EQUITY SHARES BY TRINITY CAPITAL (TWO) LIMITED. THE
ISSUE WILL CONSTITUTE 13.97 % OF THE FULLY DILUTED POST ISSUE PAID-UP CAPITAL OF THE
COMPANY.
BID/ISSUE OPENED, THURSDAY, MARCH 11, 2010 CLOSED, MONDAY, MARCH 15, 2010
The Equity Shares are proposed to be listed on the National Stock Exchange of India
Limited ("NSE") and Bombay Stock Exchange Limited ("BSE").
THE FACE VALUE PER EQUITY SHARE IS RS.10/-. THE ISSUE PRICE PER EQUITY SHARE IS
RS. 258/- AND IS 25.8 TIMES THE FACE VALUE
In terms of Rule 19(2)(b) of the SCRR read with Regulation 41(1) ot the SEBI (Issue of
Capital and Disclosure Requirements) Regulations, 2009 ("SEBI Regulations"),
this being an Issue for less than 25% of the post-Issue equity share capital of our
Company, is being made through the 100% Book Building Process wherein at least 60% of the
Issue shall be Allotted to QIBs. The Company may allocate up to 30% of the QIB Portion to
Anchor Investors at the Anchor Investor Price on a discretionary basis, out of which at
least one-third will be available for allocation to domestic Mutual Funds only. In the
event of under-subscription or non-Allotment in the Anchor Investor Portion, the balance
Equity Shares shall be added to the Net QIB Portion. 5% of the Net QIB Portion shall be
available for allocation to Mutual Funds on a proportionate basis. The remainder of the
Net QIB Portion shall be available for allocation on a proportionate basis to QIBs and
Mutual Funds, subject to valid bids being received from them at or above the Issue Price.
If at least 60% of the Issue cannot be Allotted to QIBs, then the entire application money
will be refunded forthwith. Further, not less than 10% of the Issue shall be available for
allocation on a proportionate basis to Non- Institutional Bidders and not less than 30% of
the Issue shall be available for allocation on a proportionate basis to Retail Individual
Bidders, subject to valid Bids being received at or above the Issue Price.
The Issue received 150,578 applications for 791,674,825 Equity Shares. As per the bid
data, the Issue was subscribed 35.62 times (after removing multiple and duplicate bids).
The details of the applications received in the Issue from Qualified Institutional Buyers,
Non-Institutional and Retail Individual Investor categories are as under: (Before
technical rejections)
Category |
No. of Applications |
No. of Shares |
No. of times subscription |
Qualified Institutional Buyers |
179 |
650,735,100 |
57.11 |
Non Institutional Bidders |
483 |
101,988,075 |
37.59 |
Retail individual Bidders |
149,916 |
38,951,650 |
4.79 |
Total |
150,578 |
791,674,825 |
35.62 |
Further 17 applications for 8,702,000 Equity Shares were received from Anchor
Investors, the Issue Period for which opened and closed on March 10,2010.
Final Demand
A summary of the final demand as per BSE and NSE as on the Bid/Issue Closing date
at different bid prices is as under:
Bid Price |
No. of Shares |
% to total |
Cumulative Total |
Cumulative % to total |
242 |
3675125 |
0.4609 |
797308850 |
100.0000 |
243 |
4150 |
0.0005 |
793633725 |
99.5391 |
244 |
1675 |
0.0002 |
793629575 |
99.5385 |
245 |
12625 |
0.0016 |
793627900 |
99.5383 |
246 |
2525 |
0.0003 |
793615275 |
99.5367 |
247 |
725 |
0.0001 |
793612750 |
99.5364 |
248 |
13450 |
0.0017 |
793612025 |
99.5363 |
249 |
14650 |
0.0018 |
793598575 |
99.5347 |
250 |
2101550 |
0 2636 |
793583925 |
99.5328 |
251 |
625 |
0.0001 |
791482375 |
99.2692 |
252 |
222375 |
0.0279 |
791481750 |
99.2692 |
253 |
7725 |
0.0010 |
791259375 |
99.2413 |
254 |
21025 |
0.0026 |
791251650 |
99.2403 |
255 |
82925 |
0.0104 |
791230625 |
99.2377 |
256 |
1875 |
0.0002 |
791147700 |
99.2273 |
257 |
1675 |
0.0002 |
791145825 |
99.2270 |
258 |
755367025 |
94.7396 |
791144150 |
99.2268 |
9999 |
35777125 |
4.4872 |
35777125 |
4.4872 |
TOTAL |
797308850 |
100.0000 |
|
|
The Basis of Allocation was finalized in consultation with the Designated Stock
Exchange, being the NSE on March 24, 2010.
A Allotment to Retail Individual Investors (After Technical Rejections)
Including ASBA applications
The Basis of Allotment to the Retail Individual Investors, who have bid at
cut-off or at the Issue Price of Rs. 258/- per Equity Share was finalized
in consultation with NSE. The category was over subscribed 4.75 times The
total number of shares allocated in this category is 81,39,534 Equity
Shares to 1,26,853 successful applicants. The category-wise details of
the Basis of Allotment are as under:
Category |
No. of Applications |
% to total |
Total No. of Shares applied |
% of total |
No. of Shares allocated |
Ratio |
Total No. of Shares allocated |
25 |
15554 |
10.51 |
388850 |
1.01 |
25 |
4:19 |
81900 |
50 |
9747 |
6.58 |
487350 |
1.26 |
25 |
8:19 |
102600 |
75 |
4961 |
3.35 |
372075 |
0.96 |
25 |
12:19 |
78325 |
100 |
9146 |
6.18 |
914600 |
2.36 |
25 |
16:19 |
192550 |
125 |
2913 |
1.97 |
364125 |
0.94 |
26 |
1:1 |
75738 |
150 |
2955 |
2 |
443250 |
1.15 |
32 |
1:1 |
94560 |
175 |
5299 |
3.58 |
927325 |
2.4 |
37 |
1:1 |
196063 |
200 |
6148 |
4.15 |
1229600 |
3.18 |
42 |
1:1 |
258216 |
225 |
1157 |
0.78 |
260325 |
0.67 |
47 |
1:1 |
54379 |
250 |
2097 |
1.42 |
524250 |
1.36 |
53 |
1:1 |
111141 |
275 |
688 |
0.46 |
189200 |
0.49 |
58 |
1:1 |
39904 |
300 |
1643 |
1.11 |
492900 |
1.27 |
63 |
1:1 |
103609 |
325 |
742 |
0.5 |
241150 |
0.62 |
68 |
1:1 |
50456 |
350 |
1395 |
0.94 |
488250 |
1.26 |
74 |
1:1 |
103230 |
375 |
83601 |
56.47 |
31350375 |
81.06 |
78 |
1:1 |
6620878 |
|
|
|
|
|
1 |
81:89 |
76085 |
B. Allotment to Non Institutional Investors (After Technical Rejections)
including ASBA applications
The Basis of Allotment to the Non Institutional Investors, who have bid at the Issue Price
of Rs. 258/- per Equity Share, was finalized in consultation with NSE.
The category was over subscribed 37.56 times. The total number of shares
allocated in this category is 27,13,178 Equity Shares to 431
successful applicants. The category-wise details of the Basis of Allocation are (Sample)
under:
Category |
No. of
samples |
% to Total |
Total No. of Shares applied |
% of Total |
No. of Shares allocated |
Ratio |
Total No. of Shares allocated |
400 |
9 |
1.97 |
3600 |
0.00 |
25 |
4:9 |
100 |
425 |
2 |
0.44 |
850 |
0.00 |
25 |
1:2 |
25 |
450 |
1 |
0.22 |
450 |
0.00 |
25 |
1:1 |
25 |
475 |
1 |
0.22 |
475 |
0.00 |
25 |
1:1 |
25 |
500 |
29 |
6.36 |
14500 |
0.01 |
25 |
15:29 |
375 |
525 |
4 |
0.88 |
2100 |
0.00 |
25 |
1:2 |
50 |
575 |
1 |
0.22 |
575 |
0.00 |
25 |
1:1 |
25 |
600 |
3 |
0.66 |
1800 |
0.00 |
25 |
2:3 |
50 |
650 |
1 |
0.22 |
650 |
0.00 |
25 |
1:1 |
25 |
700 |
2 |
0.44 |
1400 |
0.00 |
25 |
1:2 |
25 |
775 |
3 |
0.66 |
2325 |
0.00 |
25 |
2:2 |
50 |
800 |
2 |
0.44 |
1600 |
0.00 |
25 |
1:1 |
50 |
950 |
1 |
0.22 |
950 |
0.00 |
25 |
1:1 |
25 |
975 |
1 |
0.22 |
975 |
0.00 |
26 |
1:1 |
26 |
10000 |
4 |
0.88 |
40000 |
0.04 |
266 |
1:1 |
1064 |
10400 |
1 |
0.22 |
10400 |
0.01 |
277 |
1:1 |
277 |
18100 |
1 |
0.22 |
18100 |
0.02 |
482 |
1:1 |
482 |
124800 |
1 |
0.22 |
124800 |
0.12 |
3322 |
1:1 |
3322 |
410000 |
3 |
0.66 |
1230000 |
1.21 |
10915 |
1:1 |
32745 |
600000 |
2 |
0.44 |
1200000 |
1.18 |
15973 |
1:1 |
31946 |
1996100 |
1 |
0 22 |
1996100 |
1.96 |
53139 |
1:1 |
53139 |
2000000 |
1 |
0.22 |
2000000 |
1.96 |
53243 |
1:1 |
53243 |
5038000 |
1 |
0.22 |
5038000 |
4.94 |
134109 |
1:1 |
134109 |
13566000 |
1 |
0.22 |
13566000 |
13.31 |
361130 |
1:1 |
361130 |
C. Allotment to QIBs
Allotment to QIBs in the Net QIB portion has been done on a proportionate basis in
consultation with NSE. As per the SEBI Regulations. Mutual Funds were initially allotted
5% of the quantum of shares available (5,69,767 Equity Shares to 78 successful
applicants), and other QIBs were allotted the remaining available shares (1,08,25,583
Equity Shares to 178 successful applicants) on proportionate basis.
Flls |
Fls/Banks |
MFs |
INC/VCFs |
Total |
64,11,335 |
11,43,720 |
28,13,220 |
10,27,075 |
1,13,95,350 |
D. Allocation to Anchor Investors
Allocation to Anchor Investors has been done on a discretionary basis in
consultation with the BRLMs. As per SEBI Regulations, 30% of QIB Portion (48,83,720 Equity
Shares) was allotted to Anchor Investors.
Flls |
Fls/Banks |
MFs |
VCs |
Total |
28,29,458 |
- |
18,02,324 |
2,51,938 |
48,83,720 |
The Board of Directors of the Company has approved by circulation the basis of
allocation of shares of the Issue vide the Resolution dated March 25, 2010 and has
allotted the shares to various successful applicants.
The CAN-cum-Refund Orders and allotment advice and notices have been dispatched on March
26, 2010 to the address of the investors as registered with the depositories. In case the
same is not received within ten days, investors may contact the Registrar to the Issue at
the address given below. The Refund Orders have been over-printed with the Bank Mandate
details as registered, if any with the depositories. The shares allotted to successful
applicants are being credited to their beneficiary accounts subject to validation of the
account details with the depositories concerned. The Company is taking steps to get the
equity shares admitted for trading on Bombay Stock Exchange Limited and the National Stock
Exchange of India Limited within seven working days from the date of approval of the basis
of allocation.
Note: All capitalized terms used and not defined herein shall have the respective
meaning assigned to them in the prospectus dated March 18, 2010 ("Prospectus")
INVESTORS PLEASE NOTE
These details of the allocation made would be hosted on the website of
Registrar to the Issue, Link Intime India Private Limited at http://www.linkintime.co.in
All future correspondence in this regard may kindly be addressed to the Registrar to
the issue quoting full name of the First/ Sole applicant. Serial number of the
bid-cum-application form, number of shares bid for, name of the Member of the Syndicate
and Place where the bid was submitted and payment details at the address given below:
LINK INTIME INDIA PVT LTD
C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West),
Mumbai 400 078, India. Tel: +91 22 2596 0320 Fax: +91 22 2596 0329
Email:itnl.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Mr. Sachin Achar
Place Murnbai
Date: March 26, 2010 |
For IL&FS Transportation Networks Limited
On behalf of the Board of Directors
Sd/-
Managing Director |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET
PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF IL&FS TRANSPORTATION
NETWORKS LTD. |