Gujarat Pipavav Port IPO : Planning to raise Rs 500 crores

by khalid on 04/01/2010 · 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 company has filed draft papers (DRHP) with the capital market regulator SEBI for floating an IPO for raising Rs 500 crores. The company is also considering a pre-IPO placement with various investors.

The IPO would hit the market in March 2010 subject to regulatory approvals.

The proceeds of the IPO will be used to pre-payments of loan Rs 300 crores, Rs 88.52 crore for investment in capital expenditure and Rs 31.08 crore towards investment in capital equipment among others.

The public issue of shares of Rs 10 each would be based on 100 per cent book building process. The issue includes a reservation of shares worth Rs 10 crores for the company’s eligible employees.

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