HDIL fixes issue price of IPO at Rs 500
The company offers 2.97 crore equity shares in a price band of Rs 430-500 per share of Rs 10 each.
By PTI |
MUMBAI: Housing Development and Infrastructure Ltd (HDIL) has fixed the issue price of its initial public offering (IPO) at Rs 500, the upper end of the price band.
"HDIL has fixed the price of its IPO at Rs 500, the upper end of the price band," a company release said here on Friday.
The company had offered 2.97 crore equity shares in a price band of Rs 430-500 per share of Rs 10 each. The issue was subscribed 6.6 times.
HDIL's net issue constitutes 13.86 per cent of the fully diluted post issue paid-up capital of the company and it will stand at 15.65 per cent if the Green Shoe option is exercised in full.
The Rs 1,485 crore raised through the IPO that concluded on July 3 will be utilized to finance the acquisition of land and land development rights for its ongoing and planned projects and construction of its ongoing projects.
"HDIL has fixed the price of its IPO at Rs 500, the upper end of the price band," a company release said here on Friday.
The company had offered 2.97 crore equity shares in a price band of Rs 430-500 per share of Rs 10 each. The issue was subscribed 6.6 times.
HDIL's net issue constitutes 13.86 per cent of the fully diluted post issue paid-up capital of the company and it will stand at 15.65 per cent if the Green Shoe option is exercised in full.
The Rs 1,485 crore raised through the IPO that concluded on July 3 will be utilized to finance the acquisition of land and land development rights for its ongoing and planned projects and construction of its ongoing projects.
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