Pipavav Shipyard settles lower on Day 1 of trading
09 Oct 2009
The equity shares of Pipavav Shipyard closed at Rs57 on the Bombay Stock Exchange (BSE), at a discount of 1.72 per cent to its issue price of Rs58 a share.
Private sector Pipavav Shipyard hit the floor with a premium of 3.54 per cent on the BSE against its issue price of Rs58. The scrip surged to a high of Rs64.70 and touched a low of Rs57.75 before closing at Rs57.
On the National Stock Exchange (NSE), the scrip opened at a premium of 5.34% at Rs61.10. The Pipavav share touched a high of Rs61.10 and a low of Rs53.85 while a total of 81.16 million shares changed.
Pipavav Shipyard has proposed an outlay of Rs423.3 crore for construction of facilities for shipbuilding, ship repair and the offshore business.
Pipavav Shipyard is promoted by SKIL Infrastructure Ltd and Punj Lloyd Ltd. Singapore-based marine engineering company Sembcorp Marine Ltd also has stake in the company.
