Our Bureau

Mumbai Aug. 19

ABG Shipyard has filed a draft red herring prospectus with SEBI to enter the capital market with an IPO.

The company proposes to issue 85 lakh equity shares of Rs 10 each for cash at a premium to be decided through the book building process. Of the total offer, the company has reserved two lakh shares for its employees and of the balance, 60 per cent of the issue will be reserved for allotment to qualified institutional buyers.

The book running lead managers for the issue are IL&FS Investsmart and ICICI Securities.

(This article was published in the Business Line print edition dated August 20, 2005)
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