Gujarat Pipavav Port sets Rs 42-48 per share IPO price band

The IPO opens for bidding on 23 August 2010

Integrated port developer and operator Gujarat Pipavav Port has fixed Rs 42-48 per share price band for its initial public offering (IPO). The IPO opens for bidding on 23 August 2010 and closes on 26 August 2010.



The public issue will consists of a fresh issue of shares aggregating to Rs 500 crore and an offer for sale of up to 1.17 crore shares by the Infrastructure Fund of India and the India Infrastructure Fund.

The company proposes to use the issue proceeds of the IPO for prepayment of loans, investment in capital expenditure, capital equipment and general corporate purposes.

Gujarat Pipavav Port is the country's first private sector port providing facilities for handling both containers and bulk cargoes. It is promoted by APM Terminals, which is one of the largest container terminal operators in the world and is part of the Denmark-based AP Moeller Maersk Group.