ITNL eyes Rs 700-cr from its IPO

ITNL also plans to undertake international airport development projects in association with AAI.

IL&FS Transportation Networks (ITNL) which plans to hit the capital market with its IPO of up to Rs 700-crore on March 11,plans to undertake international airport development projects in association with the Airports Authority of India (AAI).

ITNL is a transportation infrastructure company which is into building roads,railways and waterways.

The company has fixed the price-band of its issue at between Rs 242 and Rs 258.

Story continues below this ad

“We are looking at international airport projects in association with our strategic technical advisor,Airports Authority of India. We will bid for such projects at the right time,” ITNL’s Managing Director,K Ramchand,said in Mumbai.

Presently,road development constitutes over 90 per cent of ITNL’s business. It has,however,won one project each in metro rail and urban bus transportation segments as well,Ramchand said.

The company which aims to mop-up Rs 700-crore through its IPO,plans to use the proceeds partly to repay its debts and use the balance towards new projects.

“We plan to hit the capital market on March 11 and aim to raise up to Rs 700-crore through our IPO. Of the total funds raised,Rs 530-crore will go towards repayment of debt and the rest for new projects,” Ramchand said.

Tags:
IPO

As GST 2.0 kicks in: what changes for consumers and industry

Explained54 min ago

The government has introduced significant changes to the GST structure, aiming to lower tax rates for various goods and services. This includes exemptions for Indian bread and health insurance, reduced taxes for beauty and well-being services, and addressing the inverted duty structure. The changes, effective immediately, are expected to boost household spending and encourage investments.

View all shorts

Live Blog