Pipavav Shipyard IPO to hit markets on September 16, 2009

The Initial Public Offering (IPO) of Pipavav Shipyard Ltd will open for subscription on September 16, 2009. The company is coming out with an issue of 854,50,225 equity shares [including Anchor investor portion upto 15,273,040 equity shares] of Rs 10 each for cash at a price band of Rs. 55 To Rs. 60 through 100% book-building process.

The rating agency CARE has given IPO Grading of CARE IPO Grade 3 for the issue.

JM Financial Consultants Private Limited, Citigroup Global Markets India Private Limited, Enam Securities Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.

Kotak Mahindra Capital Company Limited & Motilal Oswal Investment Advisors Private Limited are the Co-Book Running Lead Managers to the issue.

JM Financial Services Private Limited, SBICAP Securities Limited, Kotak Securities Limited, Motilal Oswal Securities Limited and SMC Global Securities Limited are the Syndicate Members to the issue.

Karvy Computershare Private Limited is the registrar to the company. The IPO closes for subscription on September 18, 2009.

Source : Equity Bulls

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