Wednesday, November 25, 04:58 pm IST
| Feedback
Moneycontrol » News Center » Stocks » IPOs
Omaxe IPO opens for subscription
Published on Tue, Jul 17, 2007 at 08:36   |  Updated at Tue, Jul 17, 2007 at 10:42  |  Source : Moneycontrol.com

Omaxe, a real estate player, is open for subscription with a public issue of 1.78 crore equity shares of Rs 10 each with an additional green shoe option of upto 17.50 lakh equity shares in the band of Rs 265 to Rs 310 per share. The issue will close for subscription on July 20, 2007.

Omaxe, which has a presence in 30 cities and nine states, intends to deploy proceeds worth Rs 500 crore for payments related to land, Rs 236 crore towards repayment of loan and Rs 699 crore for meeting development and construction costs of some of its projects.


The company has a land bank of over 3,000 acres and at present 47 projects are under development.

The issue would constitute 11.20 per cent of the fully diluted post-issue paid-up capital of the company, if the green shoe option is exercised and 10.30 per cent, if the option is not exercised.

Of the total equity float, up to 1.75 crore equity shares are for the public, while the balance 2.96 lakh shares are reserved for eligible employees of the company. Additionally, there would be a green shoe option of 17.5 lakh equity shares.

Omaxe has appointed DSP Merrill Lynch Ltd, Citigroup Global Markets India and UBS Securities India as global coordinators and joint book running lead managers for the issue. JM Morgan Stanley is the book running lead manager.

More news from IPO - Issues Open
Important Links Today:  Leadership Wall    Chat Calendar    The 10 List   
Tags: Omaxe IPO
WHAT OTHERS LIKE
  • Most Read
  • Most Viewed
24 Hours
7 Days
1 Month
NEWS FROM OUR PARTNERS
©Network 18, 2009. All Rights Reserved