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IVR Prime's land bank at about 2,500 acres: IVRCL Infra
IVR Prime, IVRCL Infrastructures & Project’s subsidiary, has fixed the price band of its initial public offering between Rs 510 and Rs 600 per share. The company is expected to raise between Rs 918 crore and Rs 1,080 crore at either end of the price band. The issue will open on July 23 and close on July 26.
IVR Prime, IVRCL Infrastructures & Projects ' subsidiary, has fixed the price band of its initial public offering between Rs 510 and Rs 600 per share. The company is expected to raise between Rs 918 crore and Rs 1,080 crore at either end of the price band. The issue will open on July 23 and close on July 26.
Sudhir Reddy, CMD, IVRCL Infrastructures & Projects, said the market capitalization, at either end of the price band, would be at Rs 3,272 crore and Rs 3,849 crore. IVR Prime's land bank at about 2,500 acres, he said.
Excerpts from the exclusive interview with Sudhir Reddy:
Q: At Rs 600 what would be the market cap of IVR-Prime and what is the NAV of IVR Prime?
A: I have not computed the NAV's yet and, as it is SEBI doesn't allow us to that. The market cap is at Rs 600, as the top end would be close to Rs 4,000 crore.
Q: What is IVRCL's current market cap?
A: It is about Rs 5,500 crore.
Q: What are the chances that you might price this at a lower end depending on what sort of appetite you see?
A: I wouldn't like to take a guess on that. This is an offering from the stable of IVRCL and IVRCL has been in the stock market for last 15 years and I feel that we have done reasonably well in our businesses. So we feel that we would be given a good opportunity for our new offering.
Q: What is the declared land bank for this market cap?
