Godrej Properties IPO to open on December 9
Godrej Properties Ltd, the real estate company, on Thursday said it will come out with its proposed initial public offer (IPO) on December 9 and close on December 11, 2009.
The company is planning to come out with an issue size of 94.29 lakh equity shares and the initial public offer will constitute 13.5 per cent of the post issue paid up capital of the company.
Godrej Properties IPO
The face value of each equity share is Rs 10 each. The price band and minimum bid lot will be decided by the company in consultation with the global coordinators and book running lead managers, the company said in a public announcement.
The realty firm has not disclosed how much fund it plans to raise from the IPO, it aims to use Rs 203 crore for acquiring land for its forthcoming projects. Moreover, it also intends to spend Rs 172 crore for loans repayment. Besides, the company would utilize Rs 75 crore for construction of the realty firm’s forthcoming projects in a three years time.
The shares of the firm are proposed to be listed on the National Stock Exchnage (NSE) and Bombay Stock Exchange (BSE).
The company has roped in ICICI Securities, Kotak Mahindra Capital Company as global coordinators and book running lead managers. While IDFC-SSKI and Nomura Financial Advisory and Securities (India) as the book running lead managers to the issue.
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Category: IPO
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