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IRB Files DRPH For IPO With SEBI

Malini Ranade 4 October 2007

IRB Infrastructure Developers has registered its draft red herring prospectus (DRHP) with the market controller SEBI yesterday for its initial public offering (IPO) of 5,10,57,666 shares of Rs 10 each.

IRB Infrastructure Developers, the holding company of the IRB Group, will invest the net issue earnings in its subsidiary, IDAA, and pay back surviving loans of the company and arms.

Deutsche Bank, Hong Kong branch, Jade Dragon (Mauritius) (a subsidiary of Goldman Sachs) and CPI Ballpark Investments (a subsidiary of Merrill Lynch) owns up 3.85% stake each in the company.

Deutsche Equities India is the book running lead manager and Kotak Mahindra Capital company is the co-book running lead manager to the issue.

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