Qualified institutional investors’ portion closed on Wednesday, which got subscribed 13.2 times. Till August 25, non-institutional and retail investors subscribed 1.2 times & 0.92 times, respectively.
The price band for the issue was at Rs 42-48 per share. Along with fresh issue of shares, there is an offer for sale of upto 1,17,07,369 equity shares by the Infrastructure Fund of India, LLC and the India Infrastructure Fund, LLC.
GPPL is the developer and operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. It has the exclusive rights to develop and operate APM Terminals Pipavav and related facilities until September 2028 pursuant to the Concession Agreement with GMB and the GoG.
The company had received commitment of Rs 92.17 crore from 20 anchor investors on August 21 as against allocation of 2.04 crore equity shares at Rs 45 per share. The anchor investors include: HDFC MF, Tata MF, Goldman Sachs, Deutsche Securities, DSP Blackrock, Govt of Singapore, JM Financial MF, Axis MF, Credit Suisse Singapore, Canara Robeco MF, Lloyd George IM, Govt Pension Fund Global, Intl Opp Fund, PI Opp Fund, Amansa Investments among others.
The issue proceeds are proposed to be utilised for (a) prepayment of loans; (b) investment in capital expenditure; (c) investment in capital equipment; and (d) general corporate purposes.