GPPL Raised 92 crore through IPO

Private port developer Gujarat Pipavav Port Ltd (GPPL) on 22 August announced that it raised nearly Rs 92 crore by roping in 20 anchor investors for its initial public offering, which opened on 23 August 2010 and ended on 25 August 2010 for the institutional buyers (QIBs) and on 26 August for the non-QIB investors. The company allocated shares to the anchor investors including those from govt of Singapore and DSP Blackrock worth Rs 2.04 crore. The shares were priced at a price of Rs 45 per piece. Some of the major investors roped in include- HDFC MF, Tata MF, Goldman Sachs, Deutsche Securities, JM Financial MF, Axis MF, Credit Suisse Singapore, Canara Robeco MF, Lloyd GeorgeIM etc. Kotak Mahindra Capital Company and IDFC Capital was book running lead managers for the UPO issue and IDBI Capital was co-book running lead manager. The model- entire one day for retail and high net worth individuals followed by GPPL for its IPO previously helped several companies in attracting more participation from the non-institutional investors.

GPPL is the developer and the operator of APM Terminals Pipavav, which is located in Saurashtra region of Gujarat.  APM Terminals Pipavav has multi-cargo and multi-user operations.