Puravankara to launch its Institutional Placement Programme (IPP) tomorrow to raise up to Rs 183 crore
Realty firm Puravankara Projects will tomorrow offer 2.15 crore equity shares to institutional investors to raise up to Rs 183 crore.
The Bangalore-based firm would launch its Institutional Placement Programme (IPP) tomorrow to meet the SEBI's norm of minimum 25 per cent public shareholding in the private sector listed companies by June.
Promoters have 89.96 per cent stake in the company as on March 31.
The issue size is 2,15,68,501 shares with an option to allot an additional up to 21,56,850 equity shares in case of oversubscription.
The company has fixed a price band of Rs 80-85 per share. Share price of the company fell by 7.76 per cent to close at Rs 88.50 apiece on BSE today. More details here
Realty firm Puravankara Projects will tomorrow offer 2.15 crore equity shares to institutional investors to raise up to Rs 183 crore.
The Bangalore-based firm would launch its Institutional Placement Programme (IPP) tomorrow to meet the SEBI's norm of minimum 25 per cent public shareholding in the private sector listed companies by June.
Promoters have 89.96 per cent stake in the company as on March 31.
The issue size is 2,15,68,501 shares with an option to allot an additional up to 21,56,850 equity shares in case of oversubscription.
The company has fixed a price band of Rs 80-85 per share. Share price of the company fell by 7.76 per cent to close at Rs 88.50 apiece on BSE today. More details here
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