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Now, Omaxe to Make its Mark in IPO Market
| June 18, 2007 |   (2 votes, average: 4.5 out of 5) Loading ... |
Close by heels of DLF, Omaxe Ltd., another prominent name in Indian real estate is ready to come up with its initial public offering (IPO) in a week. However, it may require keeping its shares price lower than its rival DLF in a bid to woo prospective investors.
Although Omaxe has not yet decided anything regarding on the price for the issue but it is expected to be below Rs 500 a share, informs a senior official of the company close to the proceedings.
The company is currently holding talks with its merchant bankers to arrive at a decent price band. DLF IPO is touted as the largest share sale to tap the Indian market. The DLF offer got a whopping Rs 9,187 crore from the market at Rs 525 a share. Contrary to this, Omaxe expects to generate Rs 890 crore at Rs 500 a share.
This time, DLF claims to offer excellent prospects for small retail investors but they have not fully subscribed to the quota of DLF shares in the wake of increasing transparency in Indian property market.
Pricing will remain a critical factor in the procedure. Any company wishing to attract large interests from investors should price its shares at a lower price band, an obvious fact, says Suruchi Kapoor, an analyst with SAL Securities Pvt. Ltd.
Omaxe filed its red herring prospectus with the market regulator SEBI in December and received approval for its IPO in May end. The company will be using the capital raised from the offer to make payments for land, repay loans and construction costs, says Omaxe’s draft red herring prospectus.
Of the total equity float, 17.5 million equity shares are for public and the remaining 2.97 lakh shares have been reserved for the company. Also, an additional 1.75 million equity shares have been kept for greenshoe option.
In case the green shoe option is bring into effect, Omaxe IPO would comprise 11.2% of the fully diluted post issue paid up capital of the company and 10.3% if the option is not exercised.
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Dear Sir,
I am a small investor. today I applied through online for 100 shares. kindly let me know the date of allotment with the expected price.
Awaiting for your kind response per return mail please.
regards
Girish Chandra
Dear Sir,
I have applied 320 shares of OMAXE through online ICICIDIRECT.COM. I have been allotted 26 nos. of shares. I have not received any refund so far. On repeated query, a recorded message is being played that a cheque of Rs. 910140/ is already been sent on 3rd August at my address. No cheque has been received so far in this connection. Details are as under.
1. Application Number: 13631188
2. Transaction ID: 3687361 Dated 19/07/07
3.Dmat A/C No. 33313189
DPID No. IN 302679
Why my refund was not processed trough EFT where as I have given the money through electronic fund transfer?
Please furnish following details at the earliest.
Name of Bank who has issued the cheque?
Cheque Number?
Name of Courier Service who was engaged?
I am eagerly waiting the reply as telephone contact is not available from your side.