Indian port operator breaks IPO record

Mundra Port and SEZ is expected to price its $450 million IPO at the top end of the range after attracting subscriptions for $52 billion worth of shares.

In a further confirmation of how hot IndiaÆs infrastructure sector is, Mundra Port and Special Economic Zone attracted a record $52 billion worth of orders to its initial public offering. Power GridÆs popular IPO in September attracted $46.5 billion in orders for a much larger deal size of $715 million.

This left MundraÆs Rs17.71 billion $450 million IPO close to 116 times covered and removed some of the concerns that it would be difficult to do sizeable transactions without the...

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