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Friday, August 18, 2006

GMR Infra to list on August 21

GMR Infrastructure (a business house with major interests in energy and transportation) will list on August 21, 2006.

The company set its offer price at Rs 210 per share, lower end of price band. The issue oversubscribed by 6.68 times.

The initial public offering, IPO was of 38,136,980 equity shares of Rs 10 each through 100% book building process.

The company is raising the amount for the purpose of investment in various SPVs and to repayment of unsecured loans.

The company said a part of the IPO proceeds would go for the power trading, transmission and distribution businesses, which the company plans to enter. The remaining will be used for the ongoing road projects.

The equity shares of the company will list on the Bombay Stock Exchange and the National Stock Exchange.

JM Morgan Stanley, ENAM Financial Consultants, DSP Merrill Lynch and SSKI Corporate Finance were the book running lead managers and Karvy Computershare was the registrar to the issue.

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