Ennore Port seeks Sebi nod to raise upto Rs 1,000 cr via bonds

NEW DELHI: Ennore Port Ltd has sought capital market regulator Sebi's approval to raise up to Rs 1,000 crore by issuance of tax-free bonds to support its financing activities.

The company would mop-up "upto Rs 5,000 million with an option to retain over subscription upto Rs 5,000 million aggregating to Rs 10,000 million," as per draft prospectus filed with market regulator Sebi.

Ennore is the only port among the 13 controlled by the central government that is run as a company, while the remaining are run as trusts.

The proceeds of the issue would be utilised for financing various projects.

IDFC Capital Ltd, A K Capital Services Ltd and SBI Capital Markets Ltd are lead managers to the issue.

Earlier, Finance Ministry had given its nod to Ennore Port to raise Rs 1,000 crore from tax-free bonds.

Ennore Port had a profit of Rs 967.21 crore at the end of March 31, 2012 and a revenue of Rs 2,502.58 crore during the same period.