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Ennore Port Tax Free Bonds Trance III Offer - Feb 2014 (Apply)

Ennore Port Limited Logo

Ennore Port Ltd.: (EPL), This PSU Company is the developer and operator of Ennore Port, India's 12th Major Port under the Ministry of Shipping, Government of India. This is the only major port to adopt the corporate form of management. Ennore Port was developed as a green field project in the east coast of India at a distance of about 20 kms. to the north of Chennai Port. The Port was declared as a Major Port under the Indian Ports Act, 1908 in March 1999. The scope of the Port was expanded taking into account subsequent developments plans of the Government of Tamil Nadu to set up Liquefied Natural Gas ('LNG'), petrochem and naphtha cracker power projects.

The company is offering tax free non-convertible bonds having face value of Rs. 1000 each with coupon rates of 8.36% to 9.00% depending on category and tenure. For category I, II and III it offers 8.36% for 10 yrs and 8.75% for 15 and 20 yrs. For category IV it offers 8.61% for 10 yrs and 9.00% for 15 and 20 years. Minimum application is to be made for 5 bonds and in multiples of 1 thereon, thereafter. Issue opens for subscription on 18.02.14 and will close on or before 14.03.14. These bonds are rated as CARE/AA and ICRA/AA (SO) by CARE and ICRA respectively indicating low credit risks.

The base size of the issue is Rs. 250 crore with a green shoe option of retaining oversubscription of Rs. 250 crore taking the total issue size of Rs. 500 crore. Issue is lead managed by RR Investors Capital Services Pvt. Ltd., A K Capital Services Ltd, SPA Capital Advisors Ltd and Karvy Investor Services Ltd and Link Intime India Pvt Ltd is the registrar to the offer.


Conclusion / Investment Strategy

Moderate investment recommended

Reviewer recommends Subscribing to the issue.

Review By Dilip Davda on Dec 12, 2019

Review Author

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.

(SEBI registered Research Analyst-Mumbai).


About Dilip Davda

Dilip Davda, a freelance journalist

Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.

Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.

Email: dilip_davda@rediffmail.com

The Ennore Port Ltd NCD Analysis helps you to understand about the company, offer detail, valuation, capital structure and financial performance. Our SEBI registered NCD Analysts tells you if Ennore Port Ltd NCD worth investing. The Ennore Port Ltd NCD Note sets the NCD expectations in systematic way which tells you if Ennore Port Ltd NCD good to buy (good or bad / yes or no). The NCD Forecast tells you weather to invest in Ennore Port Ltd NCD by providing NCD recommendations i.e. subscribe, avoid and neutral.