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Our Bureau

Mumbai , April 27

GUJARAT Pipavav Port Ltd (GPPL) has raised Rs 125 crore equity from IDFC Private Equity-managed the India Development Fund (IDF).

After the recent capital restructuring, APM Terminals (APMT), part of the A.P. Moller-Maersk Group, is now the single largest shareholder with complete management of GPPL, which is India's first port in the private sector.

IDF, which is India's largest domestic infrastructure private equity fund, will join the board of GPPL.

Mr Hans Madsen, Managing Director of GPPL, said that over the last few years, the APMT Group has created world-class port facilities at Salalah, Oman and Tanjung Palepas, Malaysia. "We expect to replicate these successes at Pipavav," he said.

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Gujarat Pipavav raises Rs 125-cr equity from IDF

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