T and T Infra Limited IPO – Complete IPO Details, Grey Market & DRHP

T and T Infra Limited is engaged in the business of Roads, Flyovers and Bridge construction based in Pune, Maharashtra. They bid for Roads, Flyovers and Bridge construction for the State of Maharashtra. T and T Infra Limited IPO comprises of 7,500,000 Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the T and T Infra Limited IPO release date, IPO offer price, subscription, T and T Infra Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


T and T Infra Limited IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.5/10
Industry Ranking 7.8/10
Company Background 7.9/10
Company Reputation 7.9/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 8.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.9/10
Top Brokers Review 7.9/10
Overall Ratings 8.1/10
Star Ratings ★★★★☆

Summary of T and T Infra Limited IPO

T and T Infra Limited IPOT and T Infra Limited is engaged in the business of Roads, Flyovers and Bridge construction based in Pune, Maharashtra. They bid for Roads, Flyovers and Bridge construction for the State of Maharashtra. The Issue comprises of a Public Issue of 7,500,000 Equity shares of face value of Rs.10.00 each fully paid  up.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements

  • In Fiscal 2018, 2017, 2016, 2015 and 2014 the total revenue, as restated, was Rs. 2,226.33 million, Rs. 1,318.63 million, Rs.1,024.49 million, Rs. 746.10 million and Rs. 341.82 million, respectively.
  • During the financial year 2017-18 the Other Income of the company increased to Rs. 8.27 million as against Rs. 6.95 million for the financial year 2016-17, representing increase by 18.99% due to increase in interest income & insurance claim in FY 2017- 18.
  • In Fiscal 2018, 2017, 2016, 2015 and 2014 the Profit 46 after Tax, as restated, was Rs. 242.97 million, Rs. 119.08 million, Rs. 77.71 million, Rs. 39.35 million and Rs. 11.96 million, respectively.
  • They have been able to increase the total revenue from Fiscal 2014 to Fiscal 2018 at a CAGR of 59.75% and the Profit after Tax has increased at a CAGR of 112.32% over the same period.

The Promoters of this company are Mr. Shrimant Mahaling Tandulkar and Mr. Shivram Bhikaji Thorvre. The lead manager to the issue is Hem Securities Limited and the Registrar to this issue is Link Intime India Private Limited .


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T and T Infra Limited IPO Date

The opening and the closing date of T and T Infra Limited IPO is not known yet.


T and T Infra Limited IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


T and T Infra Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


T and T Infra Limited IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


T and T Infra Limited IPO Equity Share Offering

 7,500,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


T and T Infra Limited – Company Overview

T and T Infra Limited is engaged in the business of Roads, Flyovers and Bridge construction based in Pune, Maharashtra. They bid for Roads, Flyovers and Bridge construction for the State of Maharashtra – Public Works Department (PWD), Maharashtra State Road Development Corporation (MSRDC), Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra Rural Road Development Association (MRRDA), Maharashtra State Road Transport Corporation (MSRTC), State of Maharashtra – Water Resources Department, Pune Municipal Corporation (PMC), Pimpri-Chinchwad Municipal Corporation (PCMC), Pimpri Chinchwad New Town Development Authority (PCNTDA), other local bodies in Maharashtra and certain real estate developers.

They have over the years developed a reputation for delivering quality projects within the time stipulated in the contract. They were awarded a contract by the State of Maharashtra – PWD to construct a bridge across the Savitri River on the Mumbai-Goa national highway that had collapsed in August, 2016. They were required under this contract to build a new bridge within a period of 180 days, which the Company successfully completed in a record time of 165 days only and traffic on the busy Mumbai-Goa highway was restored.

Competitive Strengths of T and T Infra Limited:

  • Focused on Roads, Flyovers and Bridge construction.
  • Strong order Book of Roads, Flyovers and Bridge construction projects from various government agencies, local bodies and private developers.
  • Track record of timely execution.
  • Strong execution capabilities with industry experience.
  • Experienced management team

Business strategies of T and T Infra Limited:

  • Maintain focus on Roads, Flyovers and Bridge construction.
  • Expansion of the geographical footprint
  • They intend to enter into joint venture arrangements with other infrastructure companies to bid and execute large value projects.
  • They intend to expand the business activities by undertaking civil construction contracts.
  • Leverage core competencies with enhanced in-house integration

T and T Infra Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & million)
31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 1166.68 798.52 539.24
Total Revenue 2226.33 1318.63 1024.49
Total Expense 1969.29 1198.86 941.97
Profit After Tax 242.64 119.21 77.79

Earnings per Equity Share (in Lakhs)

31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 14.73 7.22 4.71

From the above statements, one could find that the T and T Infra Limited may perform well.


T and T Infra Limited IPO – Promoters

The Promoters of this company are:

  1. Mr. Shrimant Mahaling Tandulkar
  2. Mr. Shivram Bhikaji Thorvre

List of Related Parties (Key Managerial Personnel)

  • Mr. Balasaheb More
  • Mr. Prashant Paradkar
  • Mr. Suhas Kawchale
  • Mr. Amol Thorve
  • Mr. Amol Lature
  • Mr. Prashant Pilane

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


T and T Infra Limited IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered Upto 7,500,000 Equity Shares* of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●]/- per Equity share aggregating to Rs. [●] Lakhs(2).
 Of which:
 Reserved for Market Makers [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●] /- per Equity share aggregating to Rs. [●] Lakhs
 Net Issue to the Public [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at a price of Rs. [●] /- per share aggregating Rs. [●] Lakhs
 Of which:
 Retail Investors Portion [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company at a cash price of Rs. [●]/- per Equity share aggregating Rs. [●] Lakhs will be available for allocation to Investors up to Rs. 2.00 Lakhs
 Non-Retail Investors Portion [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00 Lakhs
 Equity Shares outstanding prior to the Issue 16,500,000 Equity Shares of face value of Rs.10 each
 Equity Shares outstanding after the Issue [●] Equity Shares of face value of Rs.10 each

T and T Infra Limited IPO Issue Object

These are the IPO Issue Objects of the company

  • Purchase of Plant and Equipment;
  • To fund additional Working Capital requirements including augmentation on Long Term Working Capital;
  • To fund expenditures towards general corporate purposes; and
  • To meet public issue expenses.

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T and T Infra Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Focused on Roads, Flyovers and Bridge construction.
  • Strong order Book of Roads, Flyovers and Bridge construction projects from various government agencies, local bodies and private developers.
  • Track record of timely execution.
  • Strong execution capabilities with industry experience.
  • Experienced management team

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 4.71 60.06 29.77
31-Mar-17 7.22 47.90 15.07
31-Mar-18 14.73 49.46 7.84
  • Competitive Peers:
Particulars Face Value (in Rs.) EPS     (In Rs.) P/E Ratio RONW (%)  NAV (In Rs.)
T and T Infra Limited 10.00 14.73 49.46 29.77
J. Kumar Infra Projects Limited 5.00 18.05 12.59 9.05 199.40
Man Infra Construction Ltd. 2.00 2.98 14.87 10.12 29.41
NCC Ltd. 2.00 5.09 19.38 6.76 70.62
Simplex Infrastructures Ltd 2.00 23.55 18.06 7.15 392.22
IRB Infrastructure Developers Ltd. 10.00 12.64 15.29 17.70 71.40

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T and T Infra Limited IPO Lead Managers

Lead Managers
HEM SECURITIES LIMITED
203, Jaipur Tower M I Road Jaipur 302 001, India.
Telephone: +91 141 4051000
Email:
Contact Person: Sourabh Garg
Investor grievance email:
Website: www.hemsecurities.com
SEBI registration number: INM000010981
CIN: U67120RJ1995PLC010390

T and T Infra Limited IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai – 400 083, India
Tel: +91 22 49186200; Fax: +91 22 4918 6195
Website: www.linkintime.co.in
Email:
Investor Grievance Id:
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Other Details:

  • Statutory Auditor –  M/s. A. N. Gawade & Co., Chartered Accountants
  • Peer Review Auditor – M/s. A. N. Gawade & Co., Chartered Accountants
  • Bankers to the Company –  HDFC Bank Limited, South Indian Bank,Oriental Bank of Commerce, Canara Bank, Central Bank of India 

T and T Infra Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10

T and T Infra Limited IPO Grey Market Premium

The T and T Infra Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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