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Friday, January 18, 2008

Pipavav Shipyard files IPO papers, to raise $ 200m

Pipavav Shipyard has filed IPO papers with market regulator, Sebi. The company will dilute 10% stake through this issue, reports CNBC-TV18 quoting sources.

It will raise USD 200 million and valued at USD 2 billion.

Punj Lloyd holds 25% stake in Pipavav Shipyard Pre-IPO. It had bought 25% stake for USD 100 million and that stake now valued at around USD 450 million.

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