India's Pipavav Shipyard sees private equity exit
After a successful listing on India's Bombay Stock Exchange last year, Indian shipbuilder Pipavav Shipyard Ltd. has said that private equity investors, including Indus Capital, New York Life Insurance, Standard Chartered Private Equity and Trikona Capital, have begun to exit their holdings, following the expiry of a lock-up period on Sept 30.
Nikhil Gandhi, Pipavav Shipyard chairman, said that it was not yet clear which firms were exiting, and that the company had seen at least a 100% increase in its share price post the IPO. Gandhi also said...
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