Home / NEWS / Business / Gujarat Pipavav Port Ltd IPO opens

Advertisement

COMMENT Comment on this article

/> This Issue has been graded by CRISIL Limited as 4/5 indicating above average fundamentals through its letter dated July 31, 2010. APM Terminals is one of the largest container terminal operators in the world with a global network of 50 terminals in 34 countries and five continents.
At least 60% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs'). Further, 5% of the QIB Portion (excluding Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. If at least 60% of the Net Issue cannot be allotted to QIBs, then the entire application money shall be refunded forthwith. Further, certain Equity Shares shall be available for allocation on a proportionate basis to Eligible Employees, subject to valid bids being received at or above the Issue Price. The Issue might be for more than 25% of the post-Issue capital, based on the Issue Price being determined. Potential investors may participate in this Issue through an Application Supported by Blocked Amount providing details about the bank account which will be blocked by the Self Certified Syndicate Bank for the same.
The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the National Stock Exchange of India Limited ('NSE') and the Bombay Stock Exchange India Limited ('BSE').
The Book Running Lead Managers ('BRLMs') to the Issue are Kotak Mahindra Capital Company Limited and IDFC Capital Limited. The Co- Book Running Lead Manager ('Co-BRLM') is IDBI Capital Limited.
About APM Terminals Pipavav: Gujarat Pipavav Port Limited, part of the AP Moller-Maersk group, is the developer and operator of APM Terminals Pipavav, a gateway port located in Gujarat offering integrated port services to north-west India. Located 153 nautical miles from the ports in and around Mumbai, Port Pipavav is strategically positioned to attract shipping companies and serves North West India comprising the states of Gujarat, Rajasthan, Punjab and Delhi NCR, by providing handling and marine services for container cargo, bulk cargo and LPG. The port was awarded the ‘fastest growing port of year” in 2009 by Shipping, Marine and Ports – Chemtech Foundation. As of December 2009, the port’s facilities include: a state-of-the-art, environment friendly coal yard; berth length of 1075 metres - total 4 berths ready for operations for bulk and container cargo; LPG berth with a service deck of 65 metres; 5 Post Panamax Cranes and 3 Panamax cranes with the post Panamax cranes having an outreach of 18 containers across a ship; and twin lift capability 18, fuel efficient, Rubber Tyred Gantry Cranes, 10 of which are environment friendly; Reefer plugs; covered warehouses and open stack yards; railway sidings; port users complex; new Customs House and employee port colony under construction. In addition, the Company has a right to develop 1,561 acres of land at the port and has developed approximately 485 acres.

---