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Gujarat Pipavav raises funds from anchor investors
24 August 2010: Gujarat Pipavav has raised about Rs 92.3 crore (approx $20 million) from anchor investors as part of an initial public offering to raise as much as $107 million (approx Rs 497.55 crore).
The firm, majority owned by APM Terminals, the port operating arm of Danish shipping and oil conglomerate A.P Moller-Maersk, has allocated Rs 2.05 crore shares to 16 cornerstone investors at Rs 45 a share, according to sources. The offering is being managed by Kotak Mahindra Capital, IDFC Capital and IDBI Capital.
Source: DNA