IL&FS Transportation shines on emerging lowest bidder for KSHIP-II project

11 Dec 2012

IL&FS Transportation is currently trading at Rs. 214.35, up by 4.65 points or 2.22% from its previous closing of Rs. 209.70 on the BSE.

The scrip opened at Rs. 209.65 and has touched a high and low of Rs. 215.00 and Rs. 209.00 respectively. So far 12,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 224.30 on 06-Feb-2012 and a 52 week low of Rs. 143.10 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 215.75 and Rs. 193.25 respectively. The current market cap of the company is Rs. 4,164 crore.

The promoters holding in the company stood at 72.46% while Institutions and Non-Institutions held 6.51% and 21.03% respectively.

IL&FS Transportation Networks has been declared as the successful bidder for KSHIP-II project. The company had submitted a bid to The Project Implementation Unit, Karnataka State Highways Improvement Project, Bangalore for Design, Build, Finance, Operate, Maintain and Transfer (DBFOMT) of the existing State Highway (SH 1 & 57) from Shikaripura-Anandapuram (NH-206) and Shimoga - Shikaripura - Anavatti - Hangal (approximate length 153,665) in the State of Karnataka on annuity basis under KSHIP-II.

The development of the project has been undertaken by the Government of Karnataka (GoK) under the loan secured from the International Bank for Reconstruction and Development (IBRD-World Bank).

The concession period of the project is 10 years including construction period of 911 days with an estimated cost to the tune of Rs 397.44 crore. The successful bidder is eligible to receive a fixed grant of Rs 165.98 crore. The company had quoted a semi-annual annuity of Rs 67.10 crore.

IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

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