SKIL Infra to raise about Rs 2,200 cr thru IPO, private placements

Our Bureau New Delhi | Updated on February 21, 2011

SKIL Infrastructure plans to raise about Rs 1,800 cr –Rs 2,200 crore through a private placement and an IPO.

It aims to mobilise Rs 1,000 cr-Rs 1,200 crore through initial public offer during 2011. The company also wants to mobilise about Rs 800 crore-Rs 1,000 crore through private placement from foreign institutional investors, the SKIL Group Chairman, Mr Nikhil Gandhi, told Business Line on Monday.

“We would like to have the IPO between July and September. The pre-IPO private placement, we will do over the next few weeks,” he added. He said that the company is in talks with financial investors — primarily overseas investors.

Utilisation of funds

The funds raised by SKIL will be partly used to refinance debt and to make new investments. “We would like to increase our stake in Pipavav Shipyard to 51 per cent from the current level of 48 per cent,” said Mr Gandhi.

“SKIL is also considering overseas acquisition in the port logistics area. Additionally, we are looking at having some joint ventures for some offshore assets through Pipavav Shipyard,” said Mr Gandhi.

He added that the company is looking mainly at Europe including Scandinavia and South America. “In the overseas acquisitions, we would like to have about 51 per cent stake,” he said.


Published on February 21, 2011

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