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Pipavav Shipyard Limited IPO (Pipavav Shipyard IPO) Detail

September 16, 2009 - September 18, 2009

Pipavav Shipyard IPO is a book built issue of Rs 495.61 crores.

Pipavav Shipyard IPO bidding started from September 16, 2009 and ended on September 18, 2009. The shares got listed on BSE, NSE on October 9, 2009.

Pipavav Shipyard IPO price band is set at ₹55 to ₹60 per share. The minimum lot size for an application is 110 Shares. The minimum amount of investment required by retail investors is ₹6,600.

Citigroup Global Markets India Private Limited, Axis Capital Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the book running lead managers of the Pipavav Shipyard IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Pipavav Shipyard IPO RHP for detailed information.

Pipavav Shipyard IPO Details

IPO Date September 16, 2009 to September 18, 2009
Listing Date October 9, 2009
Face Value ₹10 per share
Price Band ₹55 to ₹60 per share
Lot Size 110 Shares
Total Issue Size85,450,225 shares
(aggregating up to ₹495.61 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Pipavav Shipyard IPO Reservation

Pipavav Shipyard IPO offers 70,177,275 shares. 35,637,185 (50.78%) to QIB, 8,485,022 (12.09%) to NII, 25,455,068 (36.27%) to RII, 600,000 (0.85%) to employees. 231,409 RIIs will receive minimum 110 shares and (sNII) and (bNII) will receive minimum 3,410 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered35,637,185 (50.78%)NA
NII (HNI) Shares Offered8,485,022 (12.09%)
Retail Shares Offered25,455,068 (36.27%)231,409
Employee Shares Offered600,000 (0.85%)NA
Total Shares Offered70,177,275 (100%)

Pipavav Shipyard IPO Lot Size

Investors can bid for a minimum of 110 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 110 ₹6,600
Retail (Max) 30 3300 ₹198,000
Lot Size Calculator

About Pipavav Shipyard Limited

Incorporated in 1997, Pipavav Shipyard Limited is currently constructing the Pipavav Shipyard, located on the west coast of India adjacent to major sea lanes between the Persian Gulf and Asia. Upon completion of construction, the Pipavav Shipyard will be capable of ship construction and repairs for a range of vessels of different sizes and types, as well as the fabrication and construction of products such as offshore platforms, rigs, jackets and vessels (but excluding subsea pipelines) for oil and gas companies.

Pipavav shipyard complex is located on the South Western coast of Gujarat, about 130 kms from Bhavnagar to its east and Diu, about 90 kms to its west. It is adjacent to Pipavav Port, the first private sector port in India, which is controlled and operated by the A.P. Moller Group (Maersk) of Denmark,one of the largest maritime groups in the world. The Pipavav Shipyard was originally promoted by SKIL and Grevek Investments, who have been joined by Punj Lloyd as a Promoter through its acquisition of 129,361,538 Equity Shares of their Company.

The construction of the Pipavav Shipyard includes:

1. Conversion of one existing wet basin into a 651 meters long and 65 meters wide, capable of accommodating ships of up to 400,000 DWT and/or multiple combinations of smaller vessels;
2. The construction of a fabrication and block assembly facility for shipyard operations;
3. The establishment of dryland facilities comprising a fabrication area for our Offshore Business Products; and
4. The installation of a shiplift facility, including multiple land berths, for building and repairing small to medium sized ships, including naval vessels.

Objects of the Issue (Pipavav Shipyard IPO Objectives)

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:
1. Construction of facilities for shipbuilding, ship repair and the Offshore Business;
2. Margin for working capital; and
3. For general corporate purposes.

Pipavav Shipyard IPO Subscription Status (Bidding Detail)

The Pipavav Shipyard IPO is subscribed 8.25 times on September 18, 2009 5:00:00 PM. The public issue subscribed 2.90 times in the retail category, 10.63 times in the QIB category, and 14.82 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Pipavav Shipyard Limited IPO Grading / Rating

CARE has assigned an IPO Grade 3 to Pipavav Shipyard Limited IPO. This means as per CARE, company has average fundamentals. CARE assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Link to download CARE rating document.

Pipavav Shipyard IPO Prospectus

Pipavav Shipyard IPO Rating

Rating:Rated 3.7 stars
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Pipavav Shipyard IPO Listing Details

Listing Date October 9, 2009
BSE Script Code 533107
ISIN INE542F01012
Final Issue Price ₹58 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Pipavav Shipyard Limited Contact Details

Pipavav Shipyard Limited
Pipavav Port,
Post Ucchaya, Via Rajula,
Rajula � 365560, Gujarat, India.
Phone: + 91-2794 286200

Pipavav Shipyard IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Pipavav Shipyard IPO FAQs

Pipavav Shipyard IPO is a main-board IPO of 85,450,225 equity shares of the face value of ₹10 aggregating up to ₹495.61 Crores. The issue is priced at ₹55 to ₹60 per share. The minimum order quantity is 110 Shares.

The IPO opens on September 16, 2009, and closes on September 18, 2009.

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Pipavav Shipyard IPO opens on September 16, 2009 and closes on September 18, 2009.

Pipavav Shipyard IPO lot size is 110 Shares, and the minimum amount required is ₹6,600.

You can apply in Pipavav Shipyard IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Pipavav Shipyard IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Pipavav Shipyard IPO allotment status.

The Pipavav Shipyard IPO listing date is on October 9, 2009.
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Pipavav Shipyard IPO Message Board

Ranked Members of Forum  Ranked Members | Most Liked Members



297. mahessh |   Link |  Bookmark |October 20, 2009 3:54:05 PM
not received ecs in obc date 20.10.2009
296. Ravi, Bangalore |   Link |  Bookmark |October 16, 2009 6:40:17 PM
284. gopalkuloor,

I am sorry if you have lost money by applying to this IPO.

You should collect information in fiancial dailies / magazines, web-sites, NSE/BSE websites, etc before putting your money.

In this forum, we cannot give comprehensive details. Even if I give before issue opens, many Board members may not believe. It is only my opinion.

However, I have given my personal opinion on price part. Read my post numbers 271, 169 & 161. These posts were put to Board before issue closes.

Everything is reflected in its price. If pricing is bad, don't SUBSCRIBE.
295. rama |   Link |  Bookmark |October 12, 2009 10:54:55 AM
To All,
If somebody says I have made money by shortselling.. dont believe them and try to do the same... they are just telling such things after seeing the price range of day.. Anybody can write I have sold 5000 shares at 58 and coverfed the same at 54 since we know the price range for the day!!!!!!!!!!!!!!!!! such messages to be considred as useless.
294. waah bhai waah |   Link |  Bookmark |October 11, 2009 1:09:43 AM
Waah bhai waaah ..prakash ne to bhai paisa banaya..waah bhai wah.bhAI LOG yeh promoter, merchant bankers, grey market aur new channels ka bada jhol chal raha hai.. jo ke issue ko chad chad ke promote karte hai . special interviews organise karte hain "special appointments" ...if u understand what i mean ... this is the way i guess money changes hands.. bhai log saavdhan rehna..
293. Ghatol |   Link |  Bookmark |October 10, 2009 11:33:25 PM
dear Gopal,
By information I meant both data and promotors' background.
Promotors background was available in the public domain. and the same was discussed in detail on various business channels as well.
292. gopalkuloor |   Link |  Bookmark |October 10, 2009 7:58:22 PM
dear sri Ghatol
Thanks for the response.

I did not mean about the financial analysis which were widely analysed on the issue of IPO of Pipavav.
I did mean about the credibility and the not so good backgound of the promoters. There was a chance that the investors were carried more by the tie up with Punj Lloyd. In the situation where in nothing much was known about the promoter personals the Punj Lloyd link might have carried the day. I thought if the not so good backgound of the promoter team as mentioned later if it were known earlier would have made a different.

Let us hope and wish well for the project and theinvestors
291. Rajesh |   Link |  Bookmark |October 10, 2009 7:06:38 PM
Don't bluff . I know what u r?
290. PRAKSHIPO |   Link |  Bookmark |October 10, 2009 4:05:38 PM
Earn a lot in pipavav ... First I sold 603*5 = 3015 shares at 59.80 Further short sale 3000 shares at 59.90... Cover 6015 shares at 53.90 and sold again 3015 shares at 58.00..So my effective selling of 3015 shares at 69.85 Rs. per share
289. RAHUL JAIN |   Link |  Bookmark |October 10, 2009 2:52:38 PM
Please find that refund amount is not credited in the bank from RBI bank name OBC and BOB from ahmedabad. pls do urgently and fast for the delay in the payment of refund

rahul jain
288. rama |   Link |  Bookmark |October 10, 2009 2:25:44 PM
Pipavav may goupto 61/ in the next week. When all peoples are pessimistic, it is likely that stock will go up.
Disclosure: I have sold my 110 IPO shares at 59.25 and again purchased 110 at 54.55/
287. R N SHETTY |   Link |  Bookmark |October 10, 2009 12:17:49 PM
Good buy at Rs 25.
Please wait till November when this scrip will be at Rs 26/
Buy 1000 shares.forget for 3 years and reap gains in 2013
286. Ghatol |   Link |  Bookmark |October 10, 2009 12:24:42 AM
dear Gopal,

The information provided by Ravi was always known to the investors and was in the public domain. When the IPO is on people listen to only the information they want to and miss out the information they don't want to listen. I had in my message posted early in the morning mentioned that the investors of Pipavav are lucky as the global cues are positive and the chances of exiting unhurt were good. However people should analyse the data available on the net from sites like chottorgarh, moneycontrol, hdfcsecurities,, nseindia, bseindia etc in the form of analysis , RHP, application form etc and reach to a conclusion based on their risk taking capability.
It is not uncommon to see people expecting huge listing gains prior to the IPO listing and the very next day they curse the promotors for profiteering.

285. gopalkuloor |   Link |  Bookmark |October 9, 2009 8:47:25 PM
to ravi bangalore pl.
i wish you could have given the details given by you today before the issue or when the issue was on. any information ofn the promoters was welcome in right time. so the public can apply with full knowledge both plus and minus side of the issue.

anyhow tks for the inf. regards
284. rajivaa |   Link |  Bookmark |October 9, 2009 4:42:34 PM
sebi must not allow costly ipo
283. Raj |   Link |  Bookmark |October 9, 2009 3:45:52 PM
Day Dreaming by IPO Investors even without looking at valuations is the reason for failure of IPO's.

If you see the IPO's that have come from July to Sept, most of them failed miserably except a few like Oil India and may be Jindal Cotex(rigged by operators due to low floating stock).

I am not sure why Investors applied for Pipavav when they know that it was very expensive?

Also day dreaming for 65 to 70 Rs listing price. Management also knew that 60 was expensive and so decided 58 to give less loss to investors. 2 Rs less saved.

Now IPO at 55, one can buy tons. All those who applied in IPO now buy as many as you want at 5 Rs less than the IPO price you were ready for.

282. Ravi, Bangalore |   Link |  Bookmark |October 9, 2009 3:08:29 PM
Poor corporate governance track record of promoters and directors is a concern. Trading in Horizon Infrastructure, in which promoters and directors Nikhil Gandhi, Bhavesh Gandhi are also directors, has been suspended by the NSE due to non-compliance with the technical and procedural requirements of the listing agreement with the NSE. Following satisfactory redressal, the NSE ended the suspension. Trading was allowed from 25 January 2008. However, Sebi is currently conducting a preliminary investigation into the price movement and transaction post lifting of suspension. Moreover, there are criminal and legal proceedings against certain directors, promoters and promoter group entities.

Part of the equity shares held by the promoters, SKIL and Grevek Investments and Finance, and pledged with certain lenders prior to the filing of the red herring prospectus, has been temporarily released so as to comply with the requirement of Sebi, with specific understanding between promoters, company and lenders. These will be re-pledged on 31 October 2009 in favour of lenders unless the promoters have repaid all amounts due and outstanding.

Foreign institutional investors, who will hold 24.96% of the post-issue equity, are not bound by the lock-in period and are free to sell most of their stake post listing. This may affect the share price of the company on listing.
281. Kushkochar |   Link |  Bookmark |October 9, 2009 2:50:27 PM
i think this is my last ipo
once again an ipo below issue price
its a waste applying in ipo
better to buy good stocks
ipo are waste
280. rama |   Link |  Bookmark |October 9, 2009 2:19:55 PM
Disclosure: I have sold my 110 shares at Rs.59.20/
279. Nitin |   Link |  Bookmark |October 9, 2009 1:03:16 PM
Guys, These days its better to hold off your investments in IPO's everyone is looking for one Hit and get their losses back in just a minute...thats not gonna happen...instead of putting your hard earned money into new companies better invest in Blue chip companies and sleep for a long time. when you open your eyes you are gonna see profits....Try That !!
278. Raj |   Link |  Bookmark |October 9, 2009 12:53:19 PM
another IPO doomed. Investing in IPO is waste. But how many will understand. The story will continue.