According to a draft prospectus filed by Ennore Port with market regulator Sebi, the port plans to raise upto Rs 5,000 million through issue of tax-free bonds with an option to retain over subscription upto Rs 5,000 million aggregating to Rs 10,000 million.
The port, which is the only one among the 13 major ports controlled by the central government that is run as a company, filed the prospectus to seek clearance of Sebi for the bond issue.
The port would use the proceeds for financing various projects. IDFC Capital, AK Capital Services and SBI Capital Markets are lead managers to the issue.
Earlier, Finance Ministry had given its nod to Ennore Port to raise Rs 1,000 crore from tax-free bonds. Ennore Port had a profit of Rs 967.21 crore at the end of March 31, 2012 and a revenue of Rs 2,502.58 crore during the same period.
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