DB Realty IPO opens; should you subscribe?

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DB Realty IPO opens; should you subscribe?

The initial public offering (IPO) of Mumbai-based DB Realty has opened for subscription. The company plans to raise around Rs 1,500 crore from the issue. The price band is at Rs 468-486 per share and the issue will close on February 2, 2010.

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The initial public offering (IPO) of Mumbai-based DB Realty has opened for subscription. The company plans to raise around Rs 1,500 crore from the issue. The price band is at Rs 468-486 per share and the issue will close on February 2, 2010.

While talking to Moneycontrol.com, experts advised investors to subscribe the issue. Investment Advisor, SP Tulsian said one could subscribe the issue even at the upper band while Manish Bhatt of Prabhudas Lilladher recommended investors to subscribe with a long term perspective.

SP Tulsian said, "Due to strong presence in Mumbai coupled with debt free status, issue looks good and is recommended even at the upper band of Rs 486. The issue should be able to give good returns, if held with 6-12 months view, as also listing gains, as it is found to be reasonably priced while comparing it with its listed peers."

Manish Bhatt of Prabhudas Lilladher said the valuations of DB Realty looked stretched, but one should subscribe to the issue with a long term view.