Gammon Infrastructure Projects (GIPL), an infrastructure project development company, has opened with a gain of 7.8% or Rs 13 at Rs 180 as against issue price of Rs 167 on the BSE. It has touched a low of Rs 149, which was 10.78% below issue price.
At 9:58 am, the share was trading at Rs 157, down 6%, with volumes of 4,68,033 shares.
On the NSE, the stock opened at Rs 170, and hit a high/low of Rs 185 and Rs 148.10, respectively. It was trading with volumes of 4,67,031 shares and turnover stood at Rs 7.28 crore.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
Showing posts with label GIPL IPO. Show all posts
Showing posts with label GIPL IPO. Show all posts
Thursday, April 3, 2008
Gammon Infra slips 5.3% below issue price
Gammon Infrastructure Projects (GIPL), an infrastructure project development company, closed at Rs 158.15, down by 5.30% or Rs 8.85 on the NSE as against the issue price of Rs 167. It opened at Rs 170, and touched an intraday high/low of Rs 185 and Rs 147, respectively.
The stock traded with volumes of 1,27,25,928 shares and the turnover was at Rs 202 crore.
In an interview with CNBC-TV18, Pervez Umrigar, MD, Gammon Infrastructure Projects Ltd said that they have 14 projects in their basket and they are awaiting the results for two more where they are preferred bidders. He added that their existing major projects include the Vizag Port project, the Paladi Bulk Port project and the NHI road project.
“Those are the main activities in front of us right now apart from the normal financial closures of our Mumbai Container terminal, our the Sikkim Hydro project and our first bio mass project in Punjab,” he added.
On the BSE the stock ended at Rs 157.90 with the volumes of 1,05,64,950. It has touched high/low of Rs 180 and Rs 147.60 respectively.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
The stock traded with volumes of 1,27,25,928 shares and the turnover was at Rs 202 crore.
In an interview with CNBC-TV18, Pervez Umrigar, MD, Gammon Infrastructure Projects Ltd said that they have 14 projects in their basket and they are awaiting the results for two more where they are preferred bidders. He added that their existing major projects include the Vizag Port project, the Paladi Bulk Port project and the NHI road project.
“Those are the main activities in front of us right now apart from the normal financial closures of our Mumbai Container terminal, our the Sikkim Hydro project and our first bio mass project in Punjab,” he added.
On the BSE the stock ended at Rs 157.90 with the volumes of 1,05,64,950. It has touched high/low of Rs 180 and Rs 147.60 respectively.
The company had entered capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each. The issue had subscribed 3.48 times.
GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
Source: Moneycontrol.com
Wednesday, April 2, 2008
Gammon Infrastructure to list on April 3
Gammon Infrastructure Projects (GIPL), an infrastructure project development company, will list on the exchanges with its equity shares on April 3, 2008. The issue price has been fixed at Rs 167 for its initial public offering (IPO) of 1,65,50,000 equity shares of par value Rs 10 each for the above issue price determined through the 100% book building process.
The issue closed on March 13, 2008, and was subscribed 3.48 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed approximately 5.17 times; the non-institutional bidders portion was subscribed approximately 3.79 times; the retail portion was subscribed approximately 1.07 times; employee reservation portion was subscribed approximately 0.53 times.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The book running lead managers to the issue were IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited. The co-book running lead manager to the Issue was Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
The issue closed on March 13, 2008, and was subscribed 3.48 times (according to the preliminary information received by the stock exchanges). The qualified institutional bidders portion was subscribed approximately 5.17 times; the non-institutional bidders portion was subscribed approximately 3.79 times; the retail portion was subscribed approximately 1.07 times; employee reservation portion was subscribed approximately 0.53 times.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis. Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The book running lead managers to the issue were IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited. The co-book running lead manager to the Issue was Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
Thursday, March 13, 2008
Gammon Infra IPO subscribed 2.8 times
The initial public offer of Gammon Infrastructure Projects (GIPL), an infrastructure project development company, has got good response, subscribed 2.8 times. Reserved portion of QIBs subscribed 4.7 times. It has received bids for 3.13 crore equity shares as against 1.65 crore shares on offer.
The issue has opened for subscription with its initial public offering (IPO) of 1,65,50,000 equity shares of face value Rs 10 each for a cash price to be determined through a 100% book building process. The issue will close on March 13, 2008. The price band is between Rs 167 and Rs 200 per equity share.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
The issue has opened for subscription with its initial public offering (IPO) of 1,65,50,000 equity shares of face value Rs 10 each for a cash price to be determined through a 100% book building process. The issue will close on March 13, 2008. The price band is between Rs 167 and Rs 200 per equity share.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
Monday, March 10, 2008
Avoid Gammon Infrastructure IPO
Gammon Infrastructure Projects (GIPL), an infrastructure project development company promoted by Gammon Group, is open for subscription with its initial public offering (IPO) of 1,65,50,000 equity shares of face value Rs 10 each for a cash price to be determined through a 100% book building process. The issue will close on March 13, 2008. The price band has been fixed between Rs 167 and Rs 200 per equity share.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
Gammon Infra IPO opens for subscription
Gammon Infrastructure Projects (GIPL), an infrastructure project development company promoted by Gammon Group, is open for subscription with its initial public offering (IPO) of 1,65,50,000 equity shares of face value Rs 10 each for a cash price to be determined through a 100% book building process. The issue will close on March 13, 2008. The price band has been fixed between Rs 167 and Rs 200 per equity share.
The issue comprises a net issue of 1,48,95,000 equity shares to the public and a reservation of 16,55,000 equity shares for eligible employees. The issue and the net issue will constitute 11.45% and 10.30% respectively of the post-Issue paid up equity share capital of the company.
At least 60% of the net issue will be allocated on a proportionate basis to qualified institutional buyers. Further, 5% of the QIB portion will be available for allocation to mutual funds only and the remaining QIB portion will be available for allocation to the QIB bidders including mutual funds. At least 10% of the net issue will be available for allocation on a proportionate basis to non-institutional bidders and at least 30% of the Net Issue will be available for allocation on a proportionate basis to retail investors.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
The issue comprises a net issue of 1,48,95,000 equity shares to the public and a reservation of 16,55,000 equity shares for eligible employees. The issue and the net issue will constitute 11.45% and 10.30% respectively of the post-Issue paid up equity share capital of the company.
At least 60% of the net issue will be allocated on a proportionate basis to qualified institutional buyers. Further, 5% of the QIB portion will be available for allocation to mutual funds only and the remaining QIB portion will be available for allocation to the QIB bidders including mutual funds. At least 10% of the net issue will be available for allocation on a proportionate basis to non-institutional bidders and at least 30% of the Net Issue will be available for allocation on a proportionate basis to retail investors.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
Monday, March 3, 2008
Gammon Infra IPO opens on Mar 10, price band Rs 167-200
Gammon Infrastructure Projects (GIPL), an infrastructure project development company promoted by the 85-year old Gammon Group, is entering the capital market with its initial public offering (IPO) of 1,65,50,000 equity shares of face value Rs 10 each for a cash price to be determined through a 100% book building process. The issue will open on March 10, 2008, and will close on March 13, 2008. The price band has been fixed between Rs 167 and Rs 200 per equity share.
The issue has been graded by Credit Analysis & Research Limited as CARE IPO Grade 4 (Grade Four) indicating above average fundamentals.
The issue comprises a net issue of 1,48,95,000 equity shares to the public and a reservation of 16,55,000 equity shares for eligible employees. The issue and the net issue will constitute 11.45% and 10.30% respectively of the post-Issue paid up equity share capital of the company.
At least 60% of the net issue will be allocated on a proportionate basis to qualified institutional buyers. Further, 5% of the QIB portion will be available for allocation to mutual funds only and the remaining QIB portion will be available for allocation to the QIB bidders including mutual funds. At least 10% of the net issue will be available for allocation on a proportionate basis to non-institutional bidders and at least 30% of the Net Issue will be available for allocation on a proportionate basis to retail investors.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
GIPL was incorporated in 2001 and is modelled as an infrastructure development company undertaking projects on a public-private partnership basis (PPP). Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
The issue has been graded by Credit Analysis & Research Limited as CARE IPO Grade 4 (Grade Four) indicating above average fundamentals.
The issue comprises a net issue of 1,48,95,000 equity shares to the public and a reservation of 16,55,000 equity shares for eligible employees. The issue and the net issue will constitute 11.45% and 10.30% respectively of the post-Issue paid up equity share capital of the company.
At least 60% of the net issue will be allocated on a proportionate basis to qualified institutional buyers. Further, 5% of the QIB portion will be available for allocation to mutual funds only and the remaining QIB portion will be available for allocation to the QIB bidders including mutual funds. At least 10% of the net issue will be available for allocation on a proportionate basis to non-institutional bidders and at least 30% of the Net Issue will be available for allocation on a proportionate basis to retail investors.
Investors can avail of two modes of payment. Under Payment Method-1, the amount payable on submission of the bid-cum-application form (in case of retail individual bidders and non-institutional bidders) is Rs 50 per equity share (such that it shall not be less than 25% of the issue price). And the balance payable shall be paid by the due date. Non-resident bidders cannot make use of Payment Method-1. Under Payment Method-II, the amount payable on submission of the bid-cum-application form in the case of retail individual bidders and non-institutional bidders shall be 100% of the bid amount, and, in the case QIBs, will be 10% of the bid amount with the balance being payable on allocation.
GIPL was incorporated in 2001 and is modelled as an infrastructure development company undertaking projects on a public-private partnership basis (PPP). Presently, GIPL undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis.
Presently, GIPL’s infrastructure project development business includes fourteen projects, of which four are already in the operations phase, seven are in the development phase and three are in the pre-development phase. GIPL also provides O&M and project advisory services for projects which are being undertaken by the project specific companies.
The Issue proceeds will be utilised to:
* Contribute to a part of the investment required by KBICL, its subsidiary formed for the design, construction, finance & maintenance of a 1.8 kilometer long four-lane bridge across river Kosi including 8.2 kilometers long approach roads and Guide bund & Afflux bund on NH-57 in the Supaul district of Bihar;
* For the investment required by GICL, its subsidiary formed for the design, construction, finance & maintenance of a 32 kilometer long four-lane bypass to Gorakhpur town on NH-28 in the state of Uttar Pradesh;
* For the investment required by SHPVL, its subsidiary formed for developing the Rangit-II hydroelectric power project in the state of Sikkim;
* For infusion of funds into MNEL, its subsidiary formed for the four-laning of the 99.5 kilometers Vadape-Gonde section (between Mumbai and Nasik) of NH 3 on BOT basis;
* Repayment of loan to Gammon India Limited and general corporate purposes and investment in strategic initiatives and acquisitions.
The book running lead managers to the issue are IDFC-SSKI Private Limited and Macquarie Capital Advisers (India) Private Limited . The co-book running lead manager to the issue is Collins Stewart Inga Private Limited.
Source: Moneycontrol.com
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