Pipavav Shipyard investment of Rs. 2,900 crore
By TMI | January 18, 2008
Pipavav Shipyard has created lots of interest recently in market and today they have come up with information that Shipyard will have an estimated investment of Rs 2,888 crore. Pipavav Shipyard is currently constructing a shipyard complex at Pipavav, located on the west coast of India adjacent to the maritime sea lane between the Persian Gulf and Asia.
For raising the fund one of the options for them is to enter capital market. Pipavav Shipyard proposes to enter the capital markets with a public issue of 86,850,000 equity shares of Rs 10 each through 100% book building process. It has already filed DRHP with SEBI for the purpose.
Punj Lloyd has acquired 129,361,538 equity shares of the company and agreed to conduct all of its offshore business, excluding the construction and fabrication of sub sea pipelines.The construction of the Pipavav Shipyard is expected to be completed in October 2008.
Topics: IPOs, Market News |
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