Gujarat Pipavav Port IPO To Open August 23, Close August 26

By Representative:
Gujarat Pipavav Port Ltd. Friday said it has received regulatory clearance to open its proposed initial public offering on Aug. 23.

The IPO will close for institutional investors Aug. 25 and for retail and high net worth individuals a day later, it said.

According to the draft offer document of share sale, the IPO will consist of a fresh issue of shares aggregating to INR5 billion and an offer for sale of up to 11.71 million shares by the Infrastructure Fund of India and the India Infrastructure Fund.

It will also include a reservation of up to INR100 million for employees.

IDFC Capital Ltd., Kotak Mahindra Capital Co. Ltd. and IDBI Capital Market Services Ltd. are the arrangers for the share sale.