IRB Infrastructure Developers to list on February 25, 2008
Bombay Stock Exchange has announced that effective from Monday, February 25, 2008 the equity shares of IRB Infrastructure Developers Limited (Scrip Code: 532947) shall be listed and admitted to dealings on the Exchange.
The equity shares of IRB Infrastructure Developers Limited (symbol: IRB) shall be listed and admitted to dealings on the National Stock Exchange w.e.f. February 25, 2008. Trading shall be in the Normal Market segment - Compulsory Demat (Rolling Settlement) for all investors.
The ISIN Code of the company is INE821I01014.
The company issued shares at a price of Rs. 185 Per share (Face Value of Rs. 10/- and Premium of Rs. 175) in the recently concluded IPO.
IRB Infrastructure’s trading debut is currently scheduled for Monday, February 25.
According to a source, the IRB Infrastructure IPO would have been valued at a 15%-20% discount to NAV (based on a sum-of-parts valuation) even at the top end of the price range, which made the bottom-end pricing quite attractive. Adding further to this, the company has a good chance of winning yet another large highway project from the government in the near-term. While IRB has yet to receive a formal letter of confirmation, it has been announced to be the highest bidder for the brownfield project which will involve widening the Surat to Dahisar section of National Highway 8 to six lanes from four. The construction is expected to take two to two and half years, but the company will have a right to 38% (and rising) of the toll revenues on the existing highway straight away.
The source notes that if confirmed, the Surat-Dahisar project will double the company’s current construction order book, which amounted to Rs23.2 billion ($585 million) at the end of October last year.
IRB Infrastructure Developers to list on February 25, 2008
Bombay Stock Exchange has announced that effective from Monday, February 25, 2008 the equity shares of IRB Infrastructure Developers Limited (Scrip Code: 532947) shall be listed and admitted to dealings on the Exchange.
The equity shares of IRB Infrastructure Developers Limited (symbol: IRB) shall be listed and admitted to dealings on the National Stock Exchange w.e.f. February 25, 2008. Trading shall be in the Normal Market segment - Compulsory Demat (Rolling Settlement) for all investors.
The ISIN Code of the company is INE821I01014.
The company issued shares at a price of Rs. 185 Per share (Face Value of Rs. 10/- and Premium of Rs. 175) in the recently concluded IPO.
Karvy Computershare Private Limited is the Registrar to the issue.
Congratulations ! You have been alloted 30 shares against your application for Company
IRB INFRASTRUCTURE DEVELOPERS LTD Application No: 13697074 Name AMIT GARG Congratulations ! You have been alloted 30 shares against your application for Company