IL&FS Transportation Networks IPO receives subscription of 6.58 times

The Initial Public Offering (IPO) of IL&FS Transportation Networks Limited has received subscription of 6.58 times till 2:00 PM on March 15, 2010.

The IPO has received total bids for 155966475 equity shares against the offer of 23719009 equity shares. The issue has received bids for 5781850 equity shares at cut-off price.

The company has come out with IPO of 23719009 Equity Shares of Rs. 10/- each for cash at a price band of Rs.242 to Rs.258 through 100% book building process.

CARE and Fitch Ratings India Private Limited have assigned IPO grading of CARE IPO Grade 4 and 4 (ind) respectively.

The IPO opened for subscription on March 11, 2010 and closes today - March 15, 2010.

Source : Equity Bulls

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