Puravankara Projects IPO gets fully subscribed

Puravankara Projects IPO gets fully subscribed
Comment E-mail Print Share
First Published: Wed, Aug 08 2007. 06 23 PM IST
Updated: Wed, Aug 08 2007. 06 23 PM IST
PTI
Mumbai: The initial public offer of Puravankara Projects got subscribed 1.83 times on 8 August, the last day of its issue.
As per the latest data available on the bourses, the IPO received bids for 3.92 crore shares against the 2.15 crore shares on offer.
The price of the IPO has been fixed between Rs400-450 per share.
Earlier,the issue was to close on 3 August but due to low subscriptions it was extended and the price band lowered from Rs500-525 a share before.
The issue would constitute 10.5% of the fully diluted post-issued paid up capital of the company.
DSP Merrill Lynch Ltd, Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Ltd are the Book Running Lead Managers for the issue.
Bids submitted by the bidders at any price in the original band of Rs500-525 would be treated as bids at the higher end of the revised price band of Rs450.
The bids submitted by bidders at the cut-off price in the earlier price band would be treated as bids at the cut-off price in the revised price band.
The Bangalore-based firm is set to foray into the international market with its first overseas project expected to be launched in the next 2-3 months in Sri Lanka. The company would develop over 100 villas in Colombo, he said, adding it intends to expand overseas operations.
Comment E-mail Print Share
First Published: Wed, Aug 08 2007. 06 23 PM IST