Upcoming IPO: Gammon Infrastructure Projects Ltd

Gammon Infrastructure Projects Ltd (GIPL) is entering the capital market with its initial public offering of 16.55 crore equity shares of Rs 10 each in price band of Rs 167 to Rs 200 per share. The issue will constitute 11.45% of the post-issue paid up capital.

The issue will open on 10 March 2008 and close on 13 March 2008. The issue has been graded by Credit Analysis & Research as CARE IPO Grade 4, indicating above average fundamentals.

GIPL is offering part payment facility to retail and non-institutional investors. The amount payable on submission of the bid cum application form is Rs 50 per equity share, with the balance to be paid by the due date.

The company undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a Public Private Partnership (PPP) basis.

GIPL plans to use the proceeds for investments in its various projects being developed by its subsidiaries in Uttar Pradesh, Maharashtra and Sikkim.

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