Gujarat Pipavav port to list today

The issue, which opened for subscription between August 23-26, was subscribed 19.94 times. Qualified institutional investors' portion got subscribed 13.2 times.

Shares of Gujarat Pipavav port Ltd. will list on the exchanges today. The Company has fixed the issue price for its Rs 5bn public issue at Rs 46 a share while price band was at Rs 42-48.



The issue, which opened for subscription between August 23-26, was subscribed 19.94 times. Qualified institutional investors' portion got subscribed 13.2 times. Non-institutional and retail investors subscribed 85.70 times & 9.15 times, respectively.

GPPL is the developer and operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. It has the exclusive rights to develop and operate APM Terminals Pipavav and related facilities until September 2028 pursuant to the Concession Agreement with GMB and the GoG.

The company had received commitment of Rs 921.7mn from 20 anchor investors on August 21 as against allocation of 20.4mn equity shares at Rs 45 per share.

The issue proceeds are proposed to be utilised for (a) prepayment of loans; (b) investment in capital expenditure; (c) investment in capital equipment; and (d) general corporate purposes.