Financial Daily from THE HINDU group of publications
Thursday, May 25, 2006
Financial Daily from THE HINDU group of publications Thursday, May 25, 2006 |
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Markets
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IPOs Logistics - Airlines Our Bureau
Mumbai , May 24 Global Vectra Helicorp Ltd, a leading provider of helicopter services, filed its draft red herring prospectus with Securities & Exchange Board of India. The company plans to enter the capital markets with an IPO of 35 lakh equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book-building route. The capital raised would be used to finance expansion of its fleet and construction of hangar at the Juhu Airport in Mumbai, an official statement said. The company is dedicated to chopper services offshore. The company is involved in transporting crew and cargo of oil and gas companies to offshore oil platforms located approximately 50 to 100 nautical miles from the coast. Of the total offer, the company would issue 28 lakh fresh equity shares. The balance seven lakh equity shares would be sold by the promoter, Azal Azerbaijan Aviation Ltd, a Vectra Group company The issue constitutes 25 per cent of the fully diluted post issue equity capital. The book running lead managers to the issue are SBI Capital Markets Ltd and ICICI Securities Ltd.
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