Journalism of Courage
Premium
This is an archive article published on June 8, 2006
GMR Infra plans Dalal Street foray by June-end
Bangalore-based infrastructure company GMR Infrastructure Ltd8217;s initial public offering is expected to hit the market by June end.
Written by Enseconomicbureau
Mumbai | June 8, 2006 12:00 AM IST
2 min read
2 min read
Bangalore-based infrastructure company GMR Infrastructure Ltd8217;s initial public offering IPO is expected to hit the market by June end. The company proposes to offer 45,331,238 equity shares of Rs 10 each constituting 13.69 stake through 100 book building process.
In terms of the offer document filed with market regulator Sebi, the company is considering private placement of certain equity shares with investors on pre IPO placement basis subject to minimum dilution of 10 as net offer to the public. JM Morgan Stanley, DSP Merrill Lynch, Enam Financial Consultants and SSKI Corporate Finance are the book running lead managers for the proposed issue.
GRM8217;s press release said that as part of the said pre IPO private placement, Citigroup has recently acquired 1.12 stake for over Rs 100 crore. This is the third private placement of shares before going for the IPO.
According to the company, ICICI Ventures had earlier picked up 2.89 stake for about Rs 250 crore in the company before filing of the draft red herring prospectus with Sebi and Quantum Fund had acquired 0.75 stake for about Rs 67 crore and PNB had acquired 0.30 stake for about Rs 27 crore.
The company intends to use part of the issue proceeds for investment in various infrastructure special purpose vehicles SPVs which are currently in the development state besides for general corporate purposes.
Advertisement
Live Blog
PHOTOS
Top Stories
Advertisement
Must Read
Advertisement
Buzzing Now
- 01
- 02
- 03
- 04
- 05
Advertisement