IL&FS Transportation is the latest one to have joined the race for public listing. And through this, the infrastructure company plans to raise Rs. 700 crore.

The price band of the IPO is expected to be in between Rs. 242 and Rs. 258 per share. It would be floating 14 per cent of its stake through the listing.

The IPO will be open for subscription from March 11 and will go on till March 15.

It has already filed its red-herring prospectus with the Registrar of Companies on March 4.

As per the plans, IL&FS will be issuing fresh equity and will be offering to sell 42.87 lakh shares of Trinity Capital.

This would lead to the dilution of stake of the promoters from 78.75 per cent. As much as 11.5-12.6 per cent will be sold off.

The company is going for the IPO so that it is able to pay back its debt, which is worth Rs. 530 crore.

It has put three book running lead managers- Nomura Financial Advisory and Securities (India), JM Financial Consultants and Enam Securities. Avendus Capital along with SBI Capital Markets is the co-book running lead manager.