Gujarat Pipavav Port IPO : Finally subscribed 19.94 times

by khalid on 29/08/2010 · 0 comments

Gujarat Pipapav Port Ltd (GPPL) is the developer and the operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. APM Terminals Pipavav is located in the Saurashtra region of Gujarat. The IPO of Gujarat Pipapav Port has received a good response from the investors with the final over-subscription figure reached to 19.94 times on an overall basis. Gujarat Pipapav Port Ltd IPO was open on 23rd Aug 2010 and closed on 26th Aug 2010 for subscription.The IPO has managed to garner a good response from Non-Institutional Investors Category where it overbid by 85.70 times on the final day of subscription.

The category-wise subscription status of Prakash Steelage Ltd on closing day is given below:-

QIB : 13.20 Times
Non-Institutional Investors : 85.70 Times
Retail Investors : 9.15 Times
Employee Reservations : 0.09 Times
Overall : 19.94 Times

The IPO proceeds would be used for Infuse funds for certain elements of ongoing expansion plan, Repayment of Sponsor Support Loan to the Promoter, APMT Mauritius. General Corporate Purposes and Achieve the benefits of listing on the Stock Exchanges.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The book running lead manager to the issue will be IDFC-SSKI Private Limited and Kotak Mahindra Capital Company Limited.

Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.

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