New IPO called Pipavav Shipyard IPO is coming next week. Pipavav shipyard is in the business of shipbuilding, ship repair, docks and we would review it and see how we can use this IPO to make some money if any.
Pipavav Shipyard IPO was to hit the market in september 2008 when it got approval from SEBI but because of bad market condition it got delayed. Approval given by SEBI to Pipavav Shipyard was valid for 1 year and expiring soon ans so they decided to come into market this September. The price band for Pipavav Shipyard IPO is 55-60 Rs. per share and IPO is going to open on 16th September 2009.
Punj Lloyd recently bought 25% stake in Pipavav Shipyard and Atul Punj is Co-Chairman in Pipavav Shipyard. And as I read on moneycontrol.com Punj Lloyd may be looking at significant value unlocking via Pipavav Shipyard and so instead of subscribing to Pipavav Shipyard go for trading in Punj Lloyd.