Saturday, October 22, 2005

Gujarat Petronet to launch IPO next month of 13.8cr shares


Gujarat State Petronet yesterday filed prospectus for an initial public offer, IPO, of 13.8 crore equity shares next month, report agencies.
"We filed prospectus with Sebi today," an official said from Ahmedabad.
Of the 13.8 crores equity shares of Rs 10 each, 50% has been reserved for qualified institutional bidders, while 35% would be for retail investors. The remaining15% would be for non-institutional buyers.
Of the reservation for QIBs, 5% has been set aside for mutual funds.
“The premium for the issue would be decided through a book-building process and the IPO would open next month," the official added.

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