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| Exchange Disseminated Time | Pipavav Defence and Offshore Engineering Company Ltd has informed BSE about the following:
1. Pipavav Defence and Offshore Engineering Company Limited ("Pipavav Defence") to raise US$150 Million through listing it London Stock Exchange.
2. It has received provisional approval from FIPB to raise US$200 Million.
3. Pipavav Defence has shortlisted Investment Bankers for listing it on London Stock Exchange.
4. Two leading Global Investment Bankers will lead the initiatives.
5. The investment will capitalise in subsidiaries to build wide spectrum defence manufacturing facilities and infrastructure for the global demand.
6. Pipavav Defence is currently working with nearly 12 countries to build warships and offshore assets and it expects to become a global defense and offshore company over the next 4 to 5 years.
7. It is looking forward to joint marketing initiatives to tap growing global demands of warships and submarines through its prestigious Joint Venture with Mazagon Dock Ltd.
8. It has submitted the bids worth US $ 2 Billion in various countries with respective local partners.
9. The investment will reduce overall debt equity and strengthen the balance sheet significantly.
10. Pipavav Defence is targeting to list its stock on London Stock Exchange by October, 2013. |
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