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IPO - At A Glance : Indian-commodity.com

Tuesday, October 30, 2007

Mundra Port To Raise Up To $450 Mln In IPO

Mundra Port and Special Economic Zone Ltd, part of India's Adani group, on Monday said it plans to raise up to 17.71 billion rupees ($450 million) through an initial public offer. The company, which plans to sell 40.25 million equity shares or 10.05 percent of its share capital, will be the first private sector Indian port developer to raise capital from the market.

The offer opens on Nov. 1 and the company has set a price band of 400-440 rupees a share. Special economic zones are tax-free export-oriented zones the government hopes will boost industrial production in India. Some funds would also be used to invest in Adani Petronet (Dahej) Port Pvt Ltd, which is being jointly developed by Petronet LNG, unlisted Adani Logistics and Inland Conware Pvt Ltd. The global co-ordinators for the issue are DSP Merrill Lynch, JM Financial Consultants, SSKI Corp Finance Ltd. Lead managers to the issue are Enam Securities, Kotak Mahindra Capital, ICICI Securities and SBI Capital Markets Ltd.
Posted by Indian-commodity at 12:15 PM

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