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IRB Infrastructure Developers Ltd IPO (IRB Infra IPO) Detail

January 31, 2008 - February 5, 2008

IRB Infra IPO is a book built issue of Rs 944.57 crores.

IRB Infra IPO bidding started from January 31, 2008 and ended on February 5, 2008. The shares got listed on BSE, NSE on February 25, 2008.

IRB Infra IPO price band is set at ₹185 to ₹220 per share. The minimum lot size for an application is 30 Shares. The minimum amount of investment required by retail investors is ₹6,600.

Deutsche Equities India Private Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the IRB Infra IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to IRB Infra IPO RHP for detailed information.

IRB Infra IPO Details

IPO Date January 31, 2008 to February 5, 2008
Listing Date February 25, 2008
Face Value ₹10 per share
Price Band ₹185 to ₹220 per share
Lot Size 30 Shares
Total Issue Size51,057,666 shares
(aggregating up to ₹944.57 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

IRB Infra IPO Lot Size

Investors can bid for a minimum of 30 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 30 ₹6,600
Retail (Max) 30 900 ₹198,000
Lot Size Calculator

About IRB Infrastructure Developers Ltd

Incorporated in 1998, IRB Infrastructure Developers Limited is in infrastructure development business which involves construction, development and operation of infrastructure development projects.

IRB Infrastructure Developer is an established infrastructure company in the roads sector in India and have a large portfolio of completed and operational BOT projects in the Indian road infrastructure sector. IRB's construction business complements infrastructure development business and involves engineering, procurement and construction work for construction projects on a contractual basis, including in the roads sector.

IRB is one of the leading Private Developers in the Western India & having large number of operating toll road projects. IRB has executed Road Construction works on BOT and funded basis for the Clients like MORST&H, NHAI, MSRDC, PWD, World Bank, Asian Development Bank, of around 1200 kms length, so far. IRB executed one of the early BOT Project viz. 'Thane Bhiwandi By-Pass Road' & the prestigious 'Mumbai - Pune Expressway & NH 4 BOT Project'.

Objects of the Issue (IRB Infra IPO Objectives)

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital
1. Investment in a Subsidiary;
2. Prepayment and repayment of existing loans of the Company and the Subsidiaries;
3. To meet the expenses of the Issue;
4. For General Corporate Purpose;
5. To meet the long term working capital requirements of the Company.

IRB Infra IPO Subscription Status (Bidding Detail)

The IRB Infra IPO is subscribed 4.30 times on February 5, 2008 5:00:00 PM. The public issue subscribed 0.99 times in the retail category, 6.42 times in the QIB category, and 1.56 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

IRB Infra IPO Prospectus

IRB Infra IPO Rating

Rating:Rated 3.2 stars
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IRB Infra IPO Listing Details

Listing Date February 25, 2008
BSE Script Code 532947
NSE Symbol IRB
ISIN INE821I01014
Final Issue Price ₹185 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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IRB Infrastructure Developers Ltd Contact Details

IRB Infrastructure Developers Ltd
3rd Floor, IRB Complex,
Chandivli Farm,
Andheri (East), Mumbai� 400072, India
Phone: +91-22 6640 4220

IRB Infra IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000

IRB Infra IPO - Buy or Not

IRB Infra IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 4 0 3
Members 0 0 0

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IRB Infra IPO is a main-board IPO of 51,057,666 equity shares of the face value of ₹10 aggregating up to ₹944.57 Crores. The issue is priced at ₹185 to ₹220 per share. The minimum order quantity is 30 Shares.

The IPO opens on January 31, 2008, and closes on February 5, 2008.

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The IRB Infra IPO opens on January 31, 2008 and closes on February 5, 2008.

IRB Infra IPO lot size is 30 Shares, and the minimum amount required is ₹6,600.

You can apply in IRB Infra IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for IRB Infra IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the IRB Infra IPO allotment status.

The IRB Infra IPO listing date is on February 25, 2008.
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IRB Infra IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



515. Rajesh |   Link |  Bookmark |April 16, 2008 2:16:22 PM
Buy IRB Infrastructure, target of Rs 240: Emkay

Emkay Research has maintained its buy rating on IRB Infrastructure Developers with a price target of Rs 240 in its April 15, 2008 research report. "IRB boasts of holding amongst the most lucrative BOT concessions in the country. It has recently bagged two highly lucrative road concessions covering the high traffic and fast growing economic centre of Surat. It's E&C business is thriving on the back of captive orders from the new concessions bagged by its BOT SPVs."

"Overall, we like IRB's strategy of adding stable cash flow road BOT concessions and leveraging the same for its E&C business. Hence, while these road concessions support the consolidated earnings with reasonable certainty, at the same time they are not dilutive on RoE (RoE of 32% for BOT portfolio). We initiate coverage on IRB with a BUY and a price target of Rs 240," says Emkay's research report.

514. Rajesh |   Link |  Bookmark |March 31, 2008 9:21:21 PM
IRB Infrastructure speeds up on new order win

IRB Infrastructure Developers gained 1.89% to Rs 180.80 at 10:14 IST on BSE after the company said it had won a bid from Maharashtra State Road Development Corporation for the integrated road development program in the city of Kolhapur, Maharashtra.

The company made this announcement after trading hours on Friday, 28 March 2008.

Meanwhile, the BSE Sensex was down 344.45 points, or 2.10%, to 16,026.84 on negative cues from the global markets. US stocks fell on Friday, 28 March 2008, as a profit warning from US department store chain J.C. Penney raised concerns about slowing consumer spending while persistent worries about credit-related problems throttled financial stocks. A prominent analyst warned that earnings would not support current dividend payouts in 2008 at Citigroup, Wachovia Corp and other US banks.

On BSE, 14,972 shares were traded in the counter. The scrip had an average daily volume of 26.80 lakh shares in the past one quarter.

The stock hit a high of Rs 182 and a low of Rs 174 so far during the day. The stock had a 52-week high of Rs 214 on 28 February 2008 and a 52-week low of Rs 163.25 on 24 March 2008.

The mid-cap scrip had underperformed the market over the past one month till 28 March 2008, declining 13.44% compared to the Sensex’s fall of 8.15%.

The company’s current equity is Rs 332.36 crore. Face value per share is Rs 10.

The current price of Rs 180.80 the year ended March 2007 consolidated EPS of Rs 0.68 with a PE multiple of 265.88.

On a consolidated basis, IRB Infrastructure Developers reported a net profit of Rs 22.73 crore on sales of Rs 305.72 crore in the year ended March 2007.

The company, which primarily works on road projects, plans to focus on road projects in western India and is also diversifying into real estate.
513. Maulik Shah |   Link |  Bookmark |March 12, 2008 4:53:29 PM
Still not credited IRB in my account

Poor karvy service ... how invester can save them self from karvy service because most company selecting karvy and karvy service is very poor

I applied in most IPO and face probelm in Reliance, IRB and RUREL ... Its problem of karvy ,,, Karvy has thousand of pending request. Even if you send any mail to karvy they will reply back after 7 or 8 days
Karvy Service is very poor. after reliance, irb and rurel many people face problem and many reported on SEBI..
We (small inversters) are help less can't do anything.

Karvy service is poor poor poor ,... no doute about it... if karvy is in other contry then this service was stoped and have to pay lots of Rs. to inverster by making such big mistake

I think we have to start campion agist karvy

Maulik Shah
512. vishal |   Link |  Bookmark |March 11, 2008 4:23:44 PM
Gaurav Mittal sahab...
Can we have some comments on REC which is listing tomorrow.

511. amitlathar |   Link |  Bookmark |March 9, 2008 2:39:55 AM
hello friends. will any one tell me about the future of IRB. as i can see from last week market went down too much and now it is at its lowest level in last six months but IRB rate is still 198. so can i hope it to reach around 300 in near future. i m holding 450 shares of it.

and some other shares also like petroleum sector (reliance petroleum) i bought it from secondary market at 223 and holding 70 shares . should i keep it or buy some more at current level to minimise my loss?

pls guide me as i m new in the market
510. N.J.Kumar |   Link |  Bookmark |March 7, 2008 9:42:06 PM
Hi everybody,
I silently observing all information about IRB in this message
Board. , Mr, Fkrmmn, etc are criticising Mr. Gaurav mittal regarding his news about IRB. I strongly support Mittal becoz I am also calculated and fundamental investor in this market belives that IRB will survive the scares of this bloody market and becomes winner at last. After all what is the CMP of Supreme Infra. 93 rupees on 07/03/2008.
509. GAURAV MITTAL |   Link |  Bookmark |March 7, 2008 4:00:58 PM
Dear Friends,

IRB Infrastructure Developers Ltd

Intraday Chart


* Quotes delayed by 15 minutes

Last Price (Rs.) 199.80
52-Week High (Rs.) 214.00
52-Week Low (Rs.) 167.30
Market Cap (In Cr.) 6,524.23

see this even after so much fluctuations in market this share is in rising Trend.........

Yes if somebody any doubt... on my Recommendation... does nt matter


Gaurav Mittal

508. GAURAV MITTAL |   Link |  Bookmark |March 7, 2008 11:51:35 AM


Market , IRB AND My recommendation are clear in front of u. Now u can easily understand that Gaurav Mittal always think for the favour of all friends.


507. vivek |   Link |  Bookmark |March 4, 2008 3:41:25 PM
i am holding 300 share alloted during ipo. it is confirmed that irb is a good stock worth to hold. because not crashing as the other infrastructure are crashing in last two days
506. prakash |   Link |  Bookmark |March 3, 2008 11:46:42 AM
i am also of the opinion that this scrip is a gem of its kind. so friends please do not sell the shares , hold for some time and then see the magic .
505. abcd |   Link |  Bookmark |March 2, 2008 7:10:58 PM
dear boarders,
I don't like to go for any buy recommentation but I am sure IRB will touch atleast Rs.1000 in 1 year from here if the markets gets stabilised. After all, although a good company, Ivrcl is Rs.2 face,and trading at Rs.465 so comparing this one IRB is purely very cheap. But The market conditions are not good now (It may go down by another 500-700 points down taking cues from global markets. So you may get the IRB stock still cheaper. Buying IRB at present rate is not bad.

Thanking you,
504. GAURAV MITTAL |   Link |  Bookmark |March 2, 2008 10:37:23 AM
Dear Friends,

Thanks for ur trust u have shown in me. Although i m a very clear person who always works for every human being including me.

Friends see this share is booming day by day today this share have broken its previous high of Rs. 209..

see in first week of march 2008 this share will zoom out and then every one will think why i should not buy.

friends this company is in competition with IVRCL Whose share market Price is nearly 450 now.......

No doubt in first week of March 2008 IRB Infra will Break 270/- level.

So, Purchase as much u can.........

Purchase as much u can at every level.

503. Frkmmn |   Link |  Bookmark |March 1, 2008 2:21:36 PM
look mr. mittal, sabhi jagah se tum galat prove ho gaye ,each and everyone is criticising u ,share market may tau losse hote rahete hai par usse dil par nahi lete ,aur kissi ko miss guide nahi karna chahiye,
502. tc |   Link |  Bookmark |March 1, 2008 1:54:06 AM
supreme infra has orders of 600 crore plus and has huge orders from sadhbhav engineering and blkashyap both these stocks tarding at 1300 and 1800

check link below if u dont believe most of there work is getting completed in March 2008
501. tc |   Link |  Bookmark |March 1, 2008 1:51:05 AM
Buy supreme infra for a 2 months target of 200+

Suprema Infra is into construction business with relatively high margins . company has around 55 projects in its orderbook and a potential player to bid for specilaised projects in near furture.
For FY 07, the company had contract income of Rs.81.89 crores and PBT of Rs.14.73 crores with PAT of Rs.12.65 crores, on equity base of Rs.10.40 crores, giving an EPS of Rs.12.16. EPS for FY08 is expected to be around 19.
Although stock is trading with relatively low volumes stock has tested the support level now possibility of stock moving upwards rapidly once the volume kicks in . fundamentally its strong, stock trading @ a relatively low PE ratio and there is a lot of room for growth . A SAFE BET for good returns



500. tc |   Link |  Bookmark |March 1, 2008 1:41:38 AM
Bpp is absolutely correct
the best stocks to buy for long term parsvnath,omaxe and suprme infrastructure
Mark my words parsvnath 269(cmp),omaxe 255(cmp) supreme infra
u will check in april
parsvnath will be 450 omaxe 375 and supreme infra 200+
i will confirm u it will be at these prices in april
and will discuss these price then
this is because of P/E
parsvnath and omaxe ar at 15 P/E and supreme quoting at 8 P/E
which is discount to its peers
if u want to go to buy large companies buy dlf then
499. Bbp |   Link |  Bookmark |March 1, 2008 12:54:53 AM
well if u rated irb as darkhorse than I am surprised Mr. Mittal. If u read the prospectus of company u will see that the valuation is at higher side at rs.185 (that's why it was subscribed at lower price band). if u want to earn money in infrastructure than better to buy OMAXE. It will be good if we value this stock at FOY 09 earnings. Moreover this stock is available to you at around 250 to 265 at present & is lower of its offer price of Rs 310 which is also quite reasonable. and last but not least you will also remember that the 52 week high of this stock is near to rs 600....
498. tc |   Link |  Bookmark |March 1, 2008 12:43:39 AM
Guarava mIttal has gone mad and may be has bought many shares and now in big loss.
This is very large issue and due to heavy selling by non instituitional its going to go down more heavily next week.
Irb will recah 110-120 in short term .correct price to enter is 100 rs.
sell this stock and agin telling buy supreme infrstructure its getting order on 19th march from municipal corportion worth 233
crore .it already has order of 178 crore from them.
Supreme infrstructure is going to reach 200 in short tem.
Use your brain guys IRB is 1000 crore issue and supreme infra is 50 crore issue.already big Mutual fund have bought supreme and there will be more demand than supply in supreme infra
.exit irb and enter supreme infra.mark my words
497. Frkmmn |   Link |  Bookmark |February 29, 2008 9:59:59 PM
you are right "profit", that fellow is thinking that,if he can convinced this forum and he can create buying ,by this if some price gets up, he will quit from this share,and some idiot saying him god,nonsense,woh achha c.a hi ban jaye bahut hai, i think usse god kahene wala bbhi ussi ka bhai lag raha hai, means people are trying to missleading this forum continously
496. Profit |   Link |  Bookmark |February 29, 2008 9:26:21 PM