Gammon Infrastructure to hit capital markets

Chennai, Mar 7 (UNI) Gammon Infrastructure Projects Limited, an infrastructure project development company promoted by the 85-year-old Gammon Group, today announced its entry into the capital market with initial public offering of 1,65,50,000 equity shares.

The price of equity shares of par value of Rs 10 each for cash, would be determined through a 100 per cent book building process.

The price band has been fixed between Rs 167 and Rs 200 per equity share, a company release here said.

The issue would open on March ten and close on March 13. The proceeds would be utilised to contribute to a part of the investment required by the company for its projects and repayment of loan and investment in strategic initiatives and acquisition, it added.

UNI WS GM 1604