Gammon Infrastructure IPO to hit market soon

February 4, 2008

Gammon Infrastructure IPO will soon open for subscription with an issue of over 1.65 crore equity shares of Rs 10 each, with the price band to be decided later through the book building process. Gammon Infrastructure IPO will be diluting 11.45 per cent of the fully diluted post-issue equity capital.  Gammon IPO was due to hit last year but the plans were hit badly as SEBI has issued a ban of 1 year to the company for not to participate in the capital markets. The company was barred because of the charges that the promoter company was routing the funds to subscribe to its rights issue. Ban is completed in December, 2007 and Gammon Infrastructure IPO can proceed with its public issue. Gammon Infrastructure has re-filed its Draft prospectus with SEBI in October and has received the approvals. Gammon Infrastructure IPO will raise around Rs 350 to Rs 400 crore to fund its expansion projects in the fields of SEZ’s , Airports and infrastructure development. More information and updates on the Gammon Infrastructure IPO will be posted here. Do visit us back for Gammon Infrastructure IPO Subscription details and Gammon Infrastructure IPO Allotment.

Posted in Indian IPOs