| Log in

SKIL Ports Raises $121M From AIM Listing

08 October, 2010

SKIL Ports & Logistics Limited, a new holding company floated by SKIL Infrastructure’s Nikhil Gandhi, has raised $121 million (GBP76 million) through a listing on Alternative Investment Market, a sub-market of the London Stock Exchange (LSE). SKIL Ports has been established to develop, own and operate port and logistics facilities in India.

SKIL Infrastructure Ltd, which also runs Pipavav Shipyard Ltd, had exited the ports business by selling a controlling stake in Gujarat Pipavav Port Ltd in 2005.

According to Dorsey & Whitney, the legal adviser to SKIL Ports & Logistics Limited on its admission to trading on AIM, this is the largest amount raised on AIM this year. Another Indian firm, business process outsourcing company iEnergizer, raised $57 million on its recent listing on AIM.

Prior to admission, promoter Nikhil Gandhi was holding 93.53% stake while Pavan Bakhshi, managing director’s stake was 6.47%. Post admission Nikhil Gandhi holds 28.91%, Standard Life Investments Limited 6.82%, FIL Investment Advisors (UK) Limited 6.68%, Legal & General Investment Management Ltd 5.45%, Schroder Investment Management Ltd 5.45%, British Steel Pension Fund Trustee Ltd 4.32%, Columbia Wanger Asset Management L.P 4.32%, Four Capital Partners LLP 4.32% and JP Morgan Asset Management (UK) Limited 3.82%. Nikhil Gandhi’s interests are all held indirectly through SKIL Global Ports & Logistics Limited, which is controlled by Mr. Gandhi.

Following Admission, the Group will commence construction of its initial project, the creation of a modern and efficient port and logistics facility. The facility will be developed at a site which the Directors believe to be well located to take advantage of the significant and growing marine and marine logistics infrastructure opportunities in India, said a statement in LSE.


Leave Your Comment
SKIL Infrastructure Files For Rs 1,125Cr IPO

SKIL Infrastructure Files For Rs 1,125Cr IPO

Madhav A Chanchani 7 years ago
Nikhil Gandhi-promoted SKIL Infrastructure Ltd has filed draft red herring...
Is Nikhil Gandhi Eyeing Everonn Education?

Is Nikhil Gandhi Eyeing Everonn Education?

Madhav A Chanchani 7 years ago
Is infrastructure honcho Nikhil Gandhi eyeing a major foray into education with...
Pipavav Defence looking to raise $150M through LSE listing by Oct

Pipavav Defence looking to raise $150M through LSE listing by Oct

TEAM VCC 4 years ago
SKIL Group’s Pipavav Defence and Offshore Engineering Co Ltd has said it is...
No Comments

SKIL Ports Raises $121M From AIM Listing

Powered by WordPress.com VIP