India: Ennore Port Seeks Approval for IPO

Ennore Port is likely to approach the ministry of shipping for its approval for an Initial Public Offering (IPO) by the end of this month in a move to raise funds for business expansion. The decision was taken at an Ennore Port board meeting last month.

The Ennore Port is the only corporatized major port and is registered as a company. The port has been able to attract an investment of Rs. 2,600 crore by private entrepreneurs on various terminals and harbour craft.


Source: stockmarkettipz, October 5, 2010;