Petronet's IPO kick-off on March 1

Petronet's IPO of 261 million shares will hit markets on March 1, 2004. The IPO has been put in a price band of Rs 13-15 a share.

In addition, the company will also float a Rs 525 crore bond issue by June to repay some of the term loans.

The bond issue will be partially guaranteed by the Asian Development Bank, which has taken 5.2 per cent equity in the company. It is likely to carry a coupon rate of 5.75 to 6.25 per cent.