Gammon Infra Projects IPO

Gammon Infrastructure Projects is planning to issue Gammon Infra Projects IPO. Earlier the Securities and Exchange Board of India (SEBI) had banned the company from entering India's capital markets for a period of one year in December, 2006. This was done because Gammon Infrastructure Projects was using the funds of the company to bid for its rights issue. The company appealed to the Securities Appellate Tribunal (SAT) but it stayed the order of SEBI in February, 2007.

The company Gammon Infrastructure Projects has re-filed the prospectus with the Securities and Exchange Board of India, in October 2007.

The one year ban on Gammon Infrastructure Projects by Securities and Exchange Board of India (SEBI) finally came to an end in December, 2007. This has allowed Gammon Infrastructure Projects to plan the issue of Gammon Infra Projects IPO. As per the prospectus that the company had filed in 2007, it will be offering through Gammon Infra Projects IPO around 16,550,000 shares of about Rs. 10 each.

Gammon Infrastructure Projects is planning to raise around Rs. 350 to 400 crores through the IPO. The lead managers of Gammon Infra Projects IPO are Macquarie India Advisory Services and SSKI Corporate Finance.

The major objective of Gammon Infra Projects IPO is to use the proceeds from the issue to fund the company's plans for expansion.