Trammel Crow Calculates Omaxe NAVs at Rs 13,600 cr

July 6, 2007	(2 votes, average: 1 out of 5)  Loading ...
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Trammel Crow, one of the most known real estate consultancy service providers, values Omaxe’s net asset value at Rs 13,600 crore. The company may hit the capital markets at a discounted valuation.

The Delhi based property developer denies commenting on valuation of the company on which it plans to base its IPO. Omaxe envisages to raise over Rs 600 crore through the issue.

The company has got the nod from the market regulator SEBI for its proposed initial public offer (IPO) which had earlier slipped into limbo.

After this, the company is trying for the approval from the Registrar of Companies (ROC) before it actually taps the markets, which has been scheduled for July 16, informs a company official.

Omaxe’s proposed IPO comes at a time when DLF raised a whopping Rs 9,000 crore through its IPO. DLF shares listed on bourses on Thursday.

If everything regarding Omaxe’s IPO fall in green box, the company will join the race with its other counterparts including DLF, Parsvnath Developers, Ansals, and Unitech as listed players in the real estate in the north.

In last 2-3 years, the sector has also gained large attentions from financial institutions and private equity (PE) investors.

Following in footsteps of BIG realty players, many small developers such as Vipul and Vatika Group are also considering coming up with their respective public issues later this 2007.

The real estate has also gained large interests from financial institutions and private equity (E) investors.

Interestingly, the global financier and philanthropis George Soros has parked large funds in almost all real estate stocks in India, including Unitech, Ansal API and Anant Raj Industries.

News Published Under:   Real Estate India |