MUMBAI: Unfazed by two major companies, Emaar and Wockhardt Hospitals, withdrawing their initial public offers, Gammon Infrastructure Projects today said it will go ahead with its plans to tap the capital market.
"Yes, we are going ahead with the IPO. Our merchant bankers have advised us to go ahead with the issue," Gammon Infrastructure Managing Director Parvez Umrigar told reporters.
Though the company has not revealed how much it will raise, according to indications in the market it would be around Rs 300-500 crore.
Emaar and Wockhardt Hospitals withdrew their IPOs earlier this week. Emaar planned to raise Rs 6,400 crore while Wockhardt Hospitals was planning to mop up Rs 650 crore.
"Infrastructure continues to be the favoured sector for investment. We are raising a small amount. So we should not face any problems," Umrigar said.
On Monday, Gammon Infrastructure would file with the Registrar of Companies and once it gets the nod it would announce the price-band of the IPO.
At present, promoters hold 90.5 per cent in Gammon Infrastructure. The current share capital of 12.8 crore would increase by 1.65 crore after IPO, taking the total share capital to 14.45 crore.
"Yes, we are going ahead with the IPO. Our merchant bankers have advised us to go ahead with the issue," Gammon Infrastructure Managing Director Parvez Umrigar told reporters.
Though the company has not revealed how much it will raise, according to indications in the market it would be around Rs 300-500 crore.
Emaar and Wockhardt Hospitals withdrew their IPOs earlier this week. Emaar planned to raise Rs 6,400 crore while Wockhardt Hospitals was planning to mop up Rs 650 crore.
"Infrastructure continues to be the favoured sector for investment. We are raising a small amount. So we should not face any problems," Umrigar said.
On Monday, Gammon Infrastructure would file with the Registrar of Companies and once it gets the nod it would announce the price-band of the IPO.
At present, promoters hold 90.5 per cent in Gammon Infrastructure. The current share capital of 12.8 crore would increase by 1.65 crore after IPO, taking the total share capital to 14.45 crore.
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