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This is an archive article published on August 26, 2010

Gujarat Pipavav IPO subscribed 19.5x

Indian port operator and developer Gujarat Pipavav's initial public offering to raise...

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Indian port operator and developer Gujarat Pipavav8217;s initial public offering to raise as much as 107 million has been subscribed 19.46 times on the last day of the offering,stock exchange data showed on Thursday.

Gujarat Pipavav has set a price band of 42-48 rupees a share for the offering that opened on Monday and closes on Thursday.

The firm is majority owned by APM Terminals,the port operating arm of Danish shipping and oil conglomerate A.P. Moller-Maersk.

The offering is being managed by Kotak Mahindra Capital,IDFC Capital and IDBI Capital.

 

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