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Adani MPSEZ IPO-1st co. from SEZ hits capital market


Adani MPSEZ IPO-1st co. from SEZ hits capital market

Last updated: November 27 2007
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  • Adani MPSEZ IPO-1st co. from SEZ hits capital market

    The initial public offer (IPO) of Adani group-promoted Mundra Port and Special Economic Zone Ltd (MPSEZL) got susbcribed over two times within the first two hours of opening on 1 November.

    The IPO has received bids for 10.52 crore equity shares against the 4.02 crore shares on offer, latest data available on the exchanges show.
    The price band for the issue has been fixed between Rs400 to Rs440. The offer will close on 7 November.

    MPSEZL is the first company from SEZ and port sector to hit the capital market. The proceeds of the issue would be utilized for further development of Mundra port and SEZ.
    The company is planning to raise about Rs1,700 crore to part-fund the construction and development of basic infrastructure and allied facilities in the proposed SEZ and construction and development of south basin terminal for coal and other cargo at Mundra Port, among others.

    Proceeds of the IPO would also be utilised in part- funding Adani Petronet (Dahej) Port Private Ltd, Adani Logistic Ltd and investments in Inland Container Private Ltd.

    MPSEZL, the developer and operator of Mundra Port, located in Kutch district of Gujarat, 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.

    - Livemint
  • #2


    Re : Adani MPSEZ IPO-1st co. from SEZ hits capital market

    Mundra Port IPO subscribed 22 times

    Mundra Port and Special Economic Zone, India's largest non-government cargo terminal, has received overwhelming response for its IPO, subscribed 21.77 times till now, as per data available on NSE website.

    The issue received bids for 87.64 crore shares against 40.25 million shares on offer and bids for 3.14 crore shares at cut off price.

    Qualified institutional and non institutional investors have given strong support to the issue till yesterday. Their reserved portion subscribed nearly 33 times and 10.5 times, respectively followed by retail with 2.76 times subscription.

    Mundra, which aims to set up cargo and coal terminals and develop a trade zone from the proceeds, is tapping an economy forecast to grow about 8.5 percent in the year to March 31. India's gross domestic product grew an average 8.6 percent over the past four years.

    The Adani Group, founder of Mundra Port, has interests in commodities trading, coal mining, power generation, real estate development and agriculture processing.

    - moneycontrol
    6th Nov, 2007


    • #3


      Re : Adani MPSEZ IPO-1st co. from SEZ hits capital market

      Mundra Port IPO subscribed 51 times

      The initial public offering (IPO) of the Adani- promoted Mundra Port and Special Economic Zone (SEZ) was subscribed 51.07 times, according to data on the website of the National Stock Exchange.

      The qualified institutional buyers (QIB) portion has been subscribed 33.3 times, and the retail portion has been subscribed 2.8 times.

      The issue is priced in a band of Rs 400-440 per share.

      DSP Merrill Lynch,JM Financial Consultants, and SSKI Corporate Finance are the global co-ordinators and book running lead managers to the issue.

      - Business Standard (07/11/2007)


      • #4


        Re : Adani MPSEZ IPO-1st co. from SEZ hits capital market

        Adani IPO breaks all records

        In a record breaking performance, Mundra Port and SEZ Ltd (MPSEZ) created new benchmarks in the Indian capital market by mobilising a staggering amount of Rs 2,07,207 crore in its initial public offer (IPO), which was oversubscribed by 116 times.

        When the offer closed on Wednesday, the investing community was left gaping at this stellar performance by an Ahmedabad-based company, as MPSEZ outstripped several high profile IPOs of big-time players like Power Grid Corporation, Reliance Petroleum, ICICI, Power Finance, TCS and DLF.

        The MPSEZ IPO has been oversubscribed 159 times by qualified institutional bidders (QIBs), 156 times by high networth individuals (HNIs) and 14 times by retail investors. Going by weightage, the over-subscription stood at 116 times.

        The MPSEZ, promoted by Gautam Adani-led Adani Group, began its journey 13 years ago to set up a captive port facility. The IPO received over 12 lakh applications.

        The company had entered the capital markets on November 1 for an equity share of Rs 10 each at a price band of Rs 400-440 to mobilise Rs 1,717 crore for expanding its port and SEZ related infrastructure at Mundra.

        - TOI, Ahmedabad
        Nov 8, '07


        • #5


          Re : Adani MPSEZ IPO-1st co. from SEZ hits capital market

          Adani MPSEZ shares likely to debut at about Rs.1,000

          Indian property magnate Gautam Adani may be about to add $4 billion to his personal fortune.

          Adani's Mundra Port & Special Economic Zone Ltd. probably will more than double during its first trading day in Mumbai today, according to a survey of five investors who are monitoring the initial public offering. That would boost the value of his family's 81.3 percent stake to $7.8 billion.

          Adani, 45, is among eight Indian developers whose wealth exceeded $1 billion for the first time this year, Forbes reported. A government plan to spend $500 billion on ports, roads and airports has lured investors to developers focusing on infrastructure.

          Infrastructure Spending

          Adani's Mundra Port, India's largest cargo terminal outside government control, attracted $52 billion of bids for the IPO, 116 times the stock for sale. Adani declined to be interviewed for this story.

          The IPO raised 17.7 billion rupees ($446 million) this month with shares sold at 440 rupees. The shares may debut today at about 1,000 rupees apiece based on off-market trading by investors who missed out on the sale.

          Mundra Port is about 70 kilometers (45 miles) from the airport at Bhuj in the western state of Gujarat. The port can cater to companies including Reliance Industries Ltd., which is constructing the world's biggest refinery in the state.

          India's per capita income increased 40 percent in the past four years, helping real-estate developers as prices for homes in the southern part of Mumbai almost doubled in the past two years, according to data compiled by Bloomberg. Prices in New Delhi, Hyderabad, Bangalore and Chennai also climbed as more local and overseas companies expand operations.

          - Bloomberg (26th Nov, 2007)


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