Pipavav Shipyard IPO

by khalid on 02/09/2009 · 2 comments

Pipavav Shipyard

Pipavav Shipyard Limited (PSL) is a testimony to the vision and active participation of the private sector in India. The company plans to raise over Rs 550-crore through an IPO, it would consist of 8.54 crore equity shares of Rs 10 each. IPO is likely to open by September 16.

The fund raised by this issue would be used to part-fund, construction of facilities for shipbuilding and ship repair. Part of the money would also allow the company to enter into the offshore business used in the exploration and construction of oil & gas companies.

This is the first IPO by any ship making firm in the recent IPO lineup. The promoters will dilute their 10-12 per cent stake through this IPO.

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