Oberoi Realty to Raise Rs 1500 cr through IPO

January 19, 2010	(Be the first to rate this story!)  Loading ...
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Real Estate Firm Oberoi Realty today filed for its initial public offer (IPO) with the market regulator SEBI through which it plans to raise an estimated Rs 1,500 crore. The city-based company has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to issue 39,562,000 equity shares with a face value of Rs 10 each through the IPO, the Mumbai-based realtor said in a statement.

According to company sources, the realty developer aims to garner up to Rs 1,500 crore through the process and plans to hit the markets with 3.95 crore equity shares. “The issue, which will be through the 100 per cent book- building process, will constitute a dilution of 12 per cent of the fully paid equity share capital of Oberoi Realty,” it said.

Kotak Mahindra, Enam Securities, JP Morgan India and Morgan Stanley India are the book-running lead managers to the issue. The primary market is set to see lot of action this year with many companies planning to raise over Rs 50,000 crore through IPOs. That apart, several CPSUs including power major NTPC, Rural Electrification Corp, Satluj Jal Vidyut Nigam and mining giant NMDC will be hitting the capital market before March.

News Published Under:   Real Estate India |

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