Financial Times FT.com

IPO values Mundra Port at $4.5bn

By Martin Arnold and Robert Wright in London

Published: November 26 2007 17:29 | Last updated: November 26 2007 17:29

Shares in one of India’s few privately owned deepwater ports will start trading on Tuesday after an initial public offering valuing the equity of Mundra Port & Special Economic Zone at about $4.5bn.

The appetite of investors for infrastructure assets in India was underlined by the high demand for the shares, which were more than 100 times subscribed. The company is majority-owned by the Adani Group, a family-controlled conglomerate.

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