IL&FS Transportation Network Limited which had tapped the capital markets with its maiden IPO received excellent support from QIB’s and HNI’s. Retail also chipped in and their portion was subscribed 4.5 times. The issue was for Rs 700 crs and included a fresh offer and an offer for sale of 42.78 lac shares. The issue price band was Rs 242-258. The issue which would be priced at the top end of the band would see a total size of 271.31 lac shares including the offer for sale.

The level of subscription will almost assure investors of listing gains. Once again the key of success for an IPO is the pricing and this is demonstrated in the level of subscription in all categories. Retail investors have responded in large numbers and close to 1.48 lac applications have been received.