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Sadbhav Infrastructure Project LTD IPO

Discussion in 'IPO' started by real_buzz, Sep 2, 2015.

  1. real_buzz Moderator

    Sadbhav Infrastructure Project LTD IPO
    Issue Opens Monday, August 31, 2015
    Listing BSE & NSE
    Issue Closes Wednesday, September 02, 2015
    BRLMs-- Kotak Mahindra Capital Company Ltd.,
    Inga Capital Private Ltd.,
    Edelweiss Financial Services Ltd.,
    ICICI Securities Ltd.,
    Macquarie Capital Securities (India) Private Ltd.
    Registrar Link Intime India Private Ltd.
    QIB 75% of the Issue
    Price Band Rs.100/- to Rs.103/-
    HNIs 15% of the Issue
    Bid Lot 145 Equity Shares & in multiples thereafter
    Retail 10% of the Issue
    Issue Size Rs. 489.72 Crore
    Face Value Rs.10/-

    Business Overview:
    Sadbhav is one of the leading road BOT companies in India that specialises in the development, operation and maintenance of highways, roads and related projects. The company, a subsidiary of Sadbhav Engineering Limited, was incorporated in 2007 as a developer and operator for highways, road and related projects on a BOT basis. All of the projects are implemented and held through special purpose vehicles, including joint venture entities.
    Sadbhav's project portfolio consists of ten BOT projects of which six road projects are fully operational, one is the partially operational border check posts and the remaining three projects are in various stages of development. Nine of the ten BOT projects are toll projects (including service fee for the border check posts in Maharashtra), while the remaining one is an annuity project. The company's operational projects cover approximately 1,531.16 lane kms and the projects under development cover approximately 1,061.48 lane kms. In addition, as of May 31, 2015, its subsidiary MBCPNL completed 13 check posts and is developing 9 more check posts for the MBCPNL Project. Sadbhav generate revenues primarily from toll collection, service fee and annuity receipts. Sadbhav also provides operation and maintenance and advisory and project management services to their projects.
    Objects of the Issue:
    The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
    1. Repayment/pre-payment, in full or part, of certain loans availed by the Company from ICICI Bank Limited and SEL, the corporate Promoter;
    2. Equity investment and advancing of sub-ordinate debt to their subsidiary, SUTPL, for part financing of the SUTPL Project; and

    3. General corporate purposes

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