Raheja Universal files DRHP for Rs 864 cr IPO
Raheja Universal, a Mumbai-based realty company, has filed draft red herring prospectus with the Securities Exchange Board of India for its initial public offer of Rs 864 crore.
By ET Bureau |
MUMBAI: Raheja Universal, a Mumbai-based realty company, has filed draft red herring prospectus with the Securities Exchange Board of India for its initial public offer of Rs 864 crore.
The company plans to use the proceeds to meet the construction and development expenses of RICC-I –Tower 1, acquisition of land and/or land development rights and pre-payment and/or re-payment of certain loans availed by the company.
Raheja Universal has over two decades of operational experience in the Mumbai Metropolitan Region. It currently owns or holds development rights for 103.48 million sq. ft. of developable area of which saleable area is 70.19 million square feet (sqft).
It has ten ongoing projects with a total developable area of 38.21 million sq. ft. and total saleable area of 21.46 million sq. ft. The projects comprise six residential projects and four commercial projects.
It is also considering a pre-IPO placement of up to 6,500,000 equity shares aggregating upto Rs 200 crore with various investors.
Kotak Mahindra Capital, Enam Securities, Citigroup Global Markets India and Morgan Stanley India are the book runners and lead managers to the issue.
The company plans to use the proceeds to meet the construction and development expenses of RICC-I –Tower 1, acquisition of land and/or land development rights and pre-payment and/or re-payment of certain loans availed by the company.
Raheja Universal has over two decades of operational experience in the Mumbai Metropolitan Region. It currently owns or holds development rights for 103.48 million sq. ft. of developable area of which saleable area is 70.19 million square feet (sqft).
It has ten ongoing projects with a total developable area of 38.21 million sq. ft. and total saleable area of 21.46 million sq. ft. The projects comprise six residential projects and four commercial projects.
It is also considering a pre-IPO placement of up to 6,500,000 equity shares aggregating upto Rs 200 crore with various investors.
Kotak Mahindra Capital, Enam Securities, Citigroup Global Markets India and Morgan Stanley India are the book runners and lead managers to the issue.
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