Puravankara IPP on Thursday; plans to raise Rs 183 cr

Puravankara Projects will raise Rs 183 crore by offering 2.15 crore equity shares to institutional investors to meet the SEBI's norm of minimum 25 per cent public shareholding in the private sector listed companies by June.

May 23, 2013 / 09:10 IST

26 Aug, 2025 12:21

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Realty firm Puravankara Projects will, offer 2.15 crore equity shares to institutional investors on Thursday in an effort to raise funds 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 over subscription.

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.

first published: May 22, 2013 08:33 pm

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