Ennore Port IPO

More and more IPO’s are planned to hit the Indian Stock markets. The latest one to be added to the list is that of Ennore Port, which has the special privilege of being the only corporatised port under the Centre’s jurisdiction.


The Ennore Port Limited is planning an IPO or Initial Public offering.

How much capital is expected to be raised by Ennore Port IPO?
The Ennore Port IPO is expected to raise about 800 Crore Rupees through its Ennore Port IPO.

Who are the competitors of Ennore Port?
Mudra Port, which is a private port operator, managed to collect around 1770 Crore Rs. through its IPO. Then there are others like Bharati Shipyard and other port companies in the private domain. Ennore Port IPO will be the first major Government-owned port where general public could have a stake.

What are the financial results and business valuations of Ennore Port IPO?
As per the news from the Hindu, The company had cash reserves of Rs 14.84 crore as on March 31, 2007, with an authorised share capital of Rs 500 crore and issued capital of Rs 300. It had a debt (secured and unsecured loans) of Rs 418.7 crore.
To provide world class services, it has to undertake a capital expenditure of Rs 3,324.3 crore, of which Rs 748 crore has to be company’s own investment while the rest could be raised through public private partnerships.

What business prospects are available for Ennore Port IPO at present?
The port has recently invited qualifying bids for setting up a container terminal. Besides, it is also in the process of setting up a common user coal terminal with 8 mt a year capacity at a cost of Rs 400 crore and a liquid cargo terminal with 3 mt a year capacity costing Rs 200 crore.
The new iron ore and coal terminals are expected to be ready by August 2010, and the containers berth by April 2011. The port also plans to set up an exclusive cargo berth for export of cars at a cost of Rs 140 crore. It is understood to be in talks with Nissan and Renault for export of 2 lakh cars a year to the European market by 2010.

Listing date and price band of Ennore Port IPO?
No information is available at present for the listing date and Price band of Ennore Port IPO.

Let’s see how this IPO performs once it opens up for subscription.

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