MUMBAI, March 10 (Reuters) - Gammon Infrastructure Projects
Ltd's initial public offer has attracted bids for 64 percent of
shares on offer by the end of its first day, data on the National
Stock Exchange web-site showed.
The 16.55-million share offer, which opened on Monday, had
received bids at both ends of its price band of 167-200 rupees as
of 5:00 p.m., the data showed.
Gammon Infra will raise a maximum of 3.31 billion rupees from
the sale and will use the funds for investment in various
projects, repaying debt to parent Gammon India <GAMM.BO> and for
acquisitions.
IDFC-SSKI Investment Banking and Macquarie India are the
book-running lead managers to the sale, which closes on Thursday.
(Reporting by Prashant Mehra; Editing by Ramya Venugopal)
(([email protected]; +91 22 6636 9029; Reuters
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Keywords: GAMMON IPO/