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Our Bureau

Kolkata, Oct. 1

Gujarat Pipavav Port Ltd (GPPL), the developer and operator of Pipavav port, the country’s first private sector port, has filed its draft red herring prospectus with the Securities & Exchange Board of India (SEBI) for an initial public offering aggregating Rs 500 crore for cash at a price to be decided through 100-per cent book-building process, according to company sources.

The equity shares offered through this draft red herring prospectus of the company are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.

GPPL is promoted by APM Terminals, which is one of the largest container terminal operators in the world operating 50 terminals in 31 countries, and is part of the Denmark-based A.P. Moeller Maersk Group. Located in the Saurashtra region, Pipavav port is one of the principal gateways on the west coast, providing facilities for handling both containers and bulk cargoes. There is also a rail connectivity to the port, the sources add.

More Stories on : Shipping/Ports | IPOs

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