Gujarat Pipavav Port To Enter The Capital Market On August 23 (18-Aug-2010)
Developer and operator of APM Terminals, Gujarat Pipavav Port, is entering capital market with an Initial Public Offering (IPO) and expects to raise Rs 500 crore. The public issue consist an offer for sale of upto 1,17,07,369 equity shares by the Infrastructure Fund of India, LLC and the India Infrastructure Fund, LLC. The issue will open for subscription on August 23, 2010 and will close on August 26,2010.
The book running lead managers to the issue are IDFC-SSKI and Kotak Mahindra Capital Company. IDBI Capital Market Services Ltd is the co-book running lead manager and Karvy Computershare is the registrar.
The issue proceeds are proposed to be utilized for - prepayment of loans; investment in capital expenditure; and for investment in capital equipment.
Promoter APM Terminals Mauritius currently holds 57.9% stake in the company,pre issue. Among institutions, IDBI Trusteeship Services and IDBI Bank are the major shareholders with 10.2% and 8.9% stake.
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