Unperturbed by the current turbulent market conditions the Gammon Group is going ahead with the IPO of Gammon Infrastructure Projects.
Gammon Infra is entering the capital market with its initial public offering (IPO) of 16.55 million equity shares of Rs 10 each in price band of Rs 167 to Rs 200 a share.
The issue will open on Mar. 10, 2008, and will close on Mar. 13, 2008.
The issue has been graded by CARE as CARE IPO Grade 4 indicating above average fundamentals.
The issue constitutes 11.45% of the post-issue paid up equity share capital of the company.
Gammon Infra is also offering part payment option.
The company, incorporated in 2001, is an infrastructure development company undertaking projects on a public-private partnership basis (PPP).
Presently, Gammon Infra undertakes and develops projects such as roads, bridges, ports, hydroelectric power and biomass power projects on a PPP basis