Indian port operator and developer Gujarat Pipavav said on Tuesday it had set the issue price for its initial public offering at 46 rupees a share, raising as much as 5 billion rupees ($106 million)
Gujarat Pipavav had set a price band of 42-48 rupees a share for the offering, which closed on Aug. 26.
The firm is majority owned by APM Terminals, the port operating arm of Danish shipping and oil conglomerate A.P. Moller-Maersk .
The Gujarat Pipavav share sale was managed by Kotak Mahindra Capital, IDFC Capital and IDBI Capital.