Puravankara to launch its Institutional Placement Programme (IPP) tomorrow to raise up to Rs 183 crore

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

Enough is Enough ! Emotional outburst of Sahara India Pariwar on SEBI

Enough is Enough ! Emotional outburst of Sahara India Pariwar on SEBI 

Subrata Roy Sahara and Sahara India Pariwar have been in the news off late for all the wrong reasons.

The tug of war between SEBI and Sahara India Pariwar only getting worse with time. 

The latest attempt by SEBI to move Supreme Court to arrest Sahara promoter Subrata Roy along with two other directors. Relates news:

Sebi moves Supreme Court to arrest Sahara promoter Subrata Roy along with two other directors

A signed full-page advertisement in the newspapers on Sunday invited the Securities and Exchange Board of India to a live debate on television.

“I hereby challenge and invite the Chairman or/and Members or/and Executive Directors of Sebi for a live debate with me on a TV channel and let people know  their wrong intent and deed, as a corporate regulator and clearly understand what extreme degree of injustice is being done by them to malign the image of Sahara India Pariwar,” said the advertisement entitled ‘Enough is Enough.’

It futher asks for a ten day notice to organise the appropriate channel and 60 minutes of air-time to facilitate the debate.

Subrata Roy Sahara would represent his group in the discussion, ‘to expose the truth,’ claimed the advert.

The advertisement also noted that he had written thrice to the chairman of Sebi seeking an appointment, but without any luck.

Details here 

Enough is Enough !

Related:

SEBI attaches Sahara Properties, freezes bank accounts as Realty investors are left in lurch

Sahara has inexhaustible ways of gathering public money - Business Today