HDIL IPO to raise Rs 1,485 cr from mkt
HDIL announces to enter the capital markets with an IPO to raise upto Rs 1,485 crore to part finance land acquisition for development of its ongoing projects.
By PTI |
MUMBAI: Housing Development and Infrastructure (HDIL) on Thursday announced that it will enter the capital markets with an Initial Public Offering (IPO) to raise upto Rs 1,485 crore to part finance land acquisition for development of its ongoing projects.
The 100 per cent book building issue, to be opened from June 28-July 3, would offer 2.97 crore equity shares of Rs 10 each at a price band of Rs 430-500 each.
“Of the total, there will be a green shoe option of up to 44.5 lakh equity shares while six lakh shares would be reserved for eligible employees,” HDIL Group Advisor B M Chaturvedi said here.
The net issue would constitute 13.86 per cent of the fully-diluted post-issue equity capital of the company. However, if the green shoe option is also fully exercised, the dilution could be up to 15.65 per cent.
Part of the Wadhawan Group, HDIL as of May 31, 2007 has 112.1 million square feet of saleable area of which almost 83 per cent is in the Mumbai Metropolitan Region. This includes 45.5 million square feet of saleable area on which the company is currently working.
HDIL has developed 73.2 million square feet of saleable area both for residential and commercial purposes.
Kotak Mahindra Capital Company and Enam Financial Consultants are the global coordinators and book-running lead managers to the issue.
The 100 per cent book building issue, to be opened from June 28-July 3, would offer 2.97 crore equity shares of Rs 10 each at a price band of Rs 430-500 each.
“Of the total, there will be a green shoe option of up to 44.5 lakh equity shares while six lakh shares would be reserved for eligible employees,” HDIL Group Advisor B M Chaturvedi said here.
The net issue would constitute 13.86 per cent of the fully-diluted post-issue equity capital of the company. However, if the green shoe option is also fully exercised, the dilution could be up to 15.65 per cent.
Part of the Wadhawan Group, HDIL as of May 31, 2007 has 112.1 million square feet of saleable area of which almost 83 per cent is in the Mumbai Metropolitan Region. This includes 45.5 million square feet of saleable area on which the company is currently working.
HDIL has developed 73.2 million square feet of saleable area both for residential and commercial purposes.
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Kotak Mahindra Capital Company and Enam Financial Consultants are the global coordinators and book-running lead managers to the issue.
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