October 07, 2008

Ennore Port may tap capital markets with INR 8 billion IPO

BL reported that Ennore Port is planning to tap the capital markets with an initial public offering of about INR 8 billion. The proposal is at a very initial stage and recently discussed by Ennore port authorities with union shipping ministry officials.

Ennore Port is also considering appointment of a consultant to study the possibility of raising funds through a public issue.

In 2007-08, Ennore Port handled 11.6 million tonnes of cargo and is now constructing a new facility costing INR 4.8 billion that can handle 12 million tonnes of iron ore per annum.