Omaxe IPO Opens for Subscription

July 17, 2007	(1 votes, average: 4 out of 5)  Loading ...
Print This Story   Email This Story Subscribe Newsletter

Omaxe, a prominent a name in Indian real estate, is foraying into the capital market with a public issue of 1.78 crore equity shares of face value of Rs 10/- each along with a green shoe option of up to 17.50 lakh equity shares in the price band of Rs 255 and Rs 310 per share today.

The issue is open for subscription till July 20, 2007.

Omaxe enjoys a strong presence in around 30 cities and nine states. The future plans of the company includes setting up the proceedings worth Rs 500 crore (in regard to land payments), Rs 236 crore for repaying the loan, and Rs 699 crore for funding the real estate projects.

Omaxe possesses a land bank of over 3,255 acre. Currently, the developer has 47 exclusive projects in its pipeline.

In case the green shoe option is exercised, the issue would constitute 11.20 per cent of the fully diluted post-issue paid up capital of the company. And, it would be 10.30 per cent, if the option is not exercised.

DSP Merill Lynch Ltd, Citigroup Global Markets India and UBS Securities India will make significant contribution as Omaxe’s global coordinators. And JM Morgan Stanley is the book running lead manager.

News Published Under:   Real Estate Developers |

Comments