Gammon Infrastructure Projects is entering primary market with initial public offer (IPO) of 1.65 crore shares. The fresh issue of shares offered through 100% book building process will constitute 11.5% of the post-issue equity capital. The issue opens on 10 March 2008 and closes on 13 March 2008.

The price band of shares having face value of Rs 10 each has been fixed at Rs 90-105 per share

Construction firm Gammon India owns 82.5% in Gammon Infrastructure Projects, while private equity fund AMIF holds another 12.5% stake.

Gammon Infrastructure Projects currently holds 13 projects for developing roads, bridges, ports, power plants and a special economic zone. Of these, four projects are operational and another five are under development.

The initial public offer plans of Gammon Infrastructure Projects ran into trouble as the market regulator Securities & Exchange Board of India (Sebi) barred Gammon India and its promoter-Chariman Abhijit Rajan from accessing the capital markets for a year in December 2006. Accordingly, Sebi's one-year ban on company accessing capital market ended in December 2007.

|