The Pipavav initial public offering opened on Wednesday. The private shipbuilder is eyeing over Rs 500 crore from the issue. The company has set a price band of Rs 55-Rs 60 per share for the 85.5 million-share issue. The issue closes on Friday, September 18.
The company said it has received commitment of Rs 92 crore from six anchor investors, which include Commonwealth Equity Fund, India Diversified (Mauritius) and Marshal India Select Fund, at the higher end of the price band.
The company was originally promoted by SKIL and Grevek Investments with 23.09% share and later joined by Punj Lloyd with 22.29% share holding. The company will be the largest dockyard in India after completion of the shipyard on the west coast, connecting the Persian Gulf to Asia.
The company said it has received commitment of Rs 92 crore from six anchor investors, which include Commonwealth Equity Fund, India Diversified (Mauritius) and Marshal India Select Fund, at the higher end of the price band.
The company was originally promoted by SKIL and Grevek Investments with 23.09% share and later joined by Punj Lloyd with 22.29% share holding. The company will be the largest dockyard in India after completion of the shipyard on the west coast, connecting the Persian Gulf to Asia.
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