Global Vectra IPO: Price fixed at 185/share

Mumbai, October 11, 2006: Global Vectra Helicorp Limited, one of India's largest dedicated offshore transportation services helicopter company, has fixed its issue price at Rs. 185 per share.

The company entered the capital market with its initial public offer of 35,00,000 equity shares of Rs.10 each comprising a fresh issue of 2,800,000 equity shares by the company and an offer for sale by Azal Azerbaijan Aviation Limited of 700,000 equity shares for cash at a price band of Rs 175 and Rs 200 and the issue was oversubscribed by 3.59 times.

The issue was open for subscription between September 29 and October 6, 2006. The issue constituted 25% of the fully diluted post issue equity capital.

The issued attracted applications for 10,967,700 equity shares from Qualified Institutions Buyers (QIBs), and applications for 1,35,6300 equity shares in the Retail Individual Investors category.