September 08, 2008

Mundra Port SEZ’s IPO likely on November 1st 2007

It is reported that Security Exchange Board of India has cleared the proposed INR 1,500 crore IPO of Adani Group promoted Mundra Port SEZ Limited. According to sources, the issue is expected to open on November 1st 2007. According to sources Port SEZ Limited SEZ is the largest port based SEZ project in India and the first such public issue to hit the capital market.

While the issue price is yet to be finalized, sources say that considering the fact that the company will issue 4.02 crore equity shares of INR 10 each, the issue price should be in the range of INR 380 per share.

The proceeds from the issue will primarily be used to part finance construction and development of basic infrastructure and allied facilities in the proposed SEZ and south basin terminal for coal and other cargo at Mundra Port. This apart, the IPO will also finance the projects lined up by Adani Petronet Port, Adani Logistics. The 10,000 hectare SEZ will include industrial, business, and social infrastructure including industrial plots and recreation facilities.


Adani group is the developer and operator of Mundra Port and is primarily engaged in providing bulk cargo services, container cargo, crude oil cargo and value-added port services, including railway services between Mundra Port and Adipur. Port SEZ Limited is the group’s logistics arm.