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16 realty firms to raise Rs9k cr via IPO in 3 months

16 realty firms to raise Rs9k cr via IPO in 3 months
PTI
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First Published: Thu, Nov 12 2009. 06 29 PM IST
Updated: Thu, Nov 12 2009. 06 29 PM IST
Mumbai: At least 16 real estate firms are set to come with their initial public offerings to raise Rs9,000 crore in the next three months.
“Going by the DRHPs submitted by the 16 real estate companies, they are planning to raise at least Rs9,000 crore. This is going to be raised in the next three months,” Knight Frank India chairman Pranay Vakil said on the sidelines of a summit organized by the Ficci here.
Vakil said that among the 16 issues, five-six are from the Southern India and a few from Northern India.
Informed sources said that Sahara plans to raise Rs3,450 crore through the IPO, Lodha Developers Rs3,000 crore, Godrej Properties Rs600 crore, DB Realty Rs1,500 crore and Kumar Builders Rs450 crore among others. Emmar MGF has also filed the DRHP with the Sebi and plans to raise Rs3,850 crore.
Hoping that the issues would be reasonably priced, he said, “Hopefully, people will now realise that you can’t take away every single money from the market and they will keep something from the investors.”
Vakil also said that there was ample liquidity, both from domestic and international sources, for the issues to sail through, but in case, one or two fails, it would be a disaster to the entire market.
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First Published: Thu, Nov 12 2009. 06 29 PM IST
More Topics: Real Estate | Realty | IPO | Shares | Markets |