Pipavav Shipyard files DRHP with SEBI
Pipavav Shipyard Limited has filed with SEBI draft documents for an initial public offering of over 8.68 crore equity shares of Rs 10 each through a 100 per cent book-building process.
By PTI |
MUMBAI: Pipavav Shipyard Limited has filed with SEBI draft documents for an initial public offering of over 8.68 crore equity shares of Rs 10 each through a 100 per cent book-building process.
The issue proceeds would be utilised to part-finance a shipyard complex at Pipavav, to be set up by the company at an estimated investment of Rs 2,888 crore, according to a release issued here today.
The company has already issued equity shares worth Rs 1,248.67 crore, including premium, while Rs 935.2 crore would be raised through financial institutions, it stated.
The company would construct the shipyard simultaneously with the production of vessels.
The construction would be conducted on an owner-managed basis, the release said, adding the company already "has agreements with three international shipowners for the construction of 26 Panamax bulk carriers of 74,500 DWT each for delivery from 2009 to May 2012 at an aggregate contract value of USD 1,063.12-million.
JM Financial Consultants, Citigroup Global Markets India and Enam Securities are the book-running lead managers (BRLMs) to the issue.
SBI Capital Markets, Kotak Mahindra Capital Company and Motilal Oswal Investment Advisors are the co-BRLMs for the issue, while IL&FS Investmart Securities Limited is the advisor to the proposed offering.
The issue proceeds would be utilised to part-finance a shipyard complex at Pipavav, to be set up by the company at an estimated investment of Rs 2,888 crore, according to a release issued here today.
The company has already issued equity shares worth Rs 1,248.67 crore, including premium, while Rs 935.2 crore would be raised through financial institutions, it stated.
The company would construct the shipyard simultaneously with the production of vessels.
The construction would be conducted on an owner-managed basis, the release said, adding the company already "has agreements with three international shipowners for the construction of 26 Panamax bulk carriers of 74,500 DWT each for delivery from 2009 to May 2012 at an aggregate contract value of USD 1,063.12-million.
JM Financial Consultants, Citigroup Global Markets India and Enam Securities are the book-running lead managers (BRLMs) to the issue.
ADVERTISEMENT
SBI Capital Markets, Kotak Mahindra Capital Company and Motilal Oswal Investment Advisors are the co-BRLMs for the issue, while IL&FS Investmart Securities Limited is the advisor to the proposed offering.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
