Tuesday, November 01, 2005

ABG Shipyard fixes price band for IPO - Rs 155-185


ABG Shipyard, the largest private sector shipyard in India, has announced a price band of Rs155-185 for determining the issue price of its initial public offering, IPO, of 85 lakh equity shares of Rs 10 each for cash at a premium to be decided through a book-built process, according to a release.
Of the total issue offer, the company has reserved 200,000 equity shares to be offered to its employees. Of the balance net issue offer, 60% of the issue are reserved for allotment to qualified institutional buyers on a discretionary basis and 10% is reserved for allotment to non-institutional buyers on a proportionate basis. The balance 30% of the net issue offer is to be allotted to retail investors on a proportionate basis.
The equity shares are proposed to be listed on The Stock Exchange, Mumbai.
The company is an established manufacturer of marine ships, including bulk carriers, deck barges, interceptor boats, anchor handling supply ships, diving support ships, tugs and offshore vessels. The company since 1990 has delivered so far 88 ships of various types to domestic and international customers. The company has an order book position of 27 ships, which are under construction.
The book running lead managers for the issue are IL&FS Investsmart and ICICI Securities.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home