Mumbai, August 8, 2006: Lanco Infratech Limited, an infrastructure company involved in power generation, construction and property development, has filed its Draft Red Herring Prospectus with the Securities & Exchange Board of India to enter the capital market with its initial public offering of equity shares.
The company proposes to offer 44,472,381 equity shares of Rs.10 each for cash at a premium to be decided through the 100% book-build process to be conducted on the Mumbai and National stock exchanges. The issue would constitute 20% of the fully diluted post issue equity capital.
Lanco Infratech Limited proposes to reserve 500,000 equity shares for allotment to eligible employees of the company. Thus, the net offer to public would be of 43,972,381 equity shares.
Of the net offer to public, the company plans to reserve 60% of the issue for allotment to Qualified Institutional Buyers on a proportionate basis, 5% of which will be available for allotment to mutual funds. The company also proposes to reserve up to 10% for allotment to non-institutional investors and the balance 30% for allotment to retail investors on a proportionate basis.
In its DRHP, the company has indicated that it is considering private placement of equity shares. In the event of a successful private placement of equity shares, the net offer to public would stand reduced.
The Book Running Lead Managers to issue include JM Morgan Stanley Limited, Enam Financial Consultants Pvt Ltd, ICICI Securities Ltd and Kotak Mahindra Capital Company Limited.
For further information contact:
Mr. V. Narsimhan
Lanco Infratech Limited
Phone: 040-23540695
Mr. Himanshu Kapadia
Adfactors PR
Phone: 9821358418
Source: Ad-Factors PR
Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.