Embassy Property Developers plans to go public to raise upto Rs 2 400 crore (13-Jul-2010)
Indian-Commodity : Ipo : Embassy Property Developers plans to go public to raise upto Rs 2 400 crore
Realty player Embassy Property Developers on July 12, 2010 has filed Rs 2,400-crore initial public offer (IPO). The company is also considering a pre-IPO placement of up to Rs 1,175 crore, as per the DRHP. The IPO will be done 100% book-building, post which the company plans both BSE and NSE listing.
Edelweiss Capital, UBS Securities India, Nomura Financial Advisory & Securities India and Citigroup Global Markets India are the book-running lead managers to the issue.
The developer wants to tap the primary market to raise funds to finance the ongoing as well as new projects, besides repaying loans and for general corporate purposes.
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