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The project will span across 10.75 acres of land, with a total saleable area potential of 2.5 million square feet, the conglomerate said
The hotelier’s return ratios are solid and the stock valuation is attractive while part of the IPO money will support growth plans
The company has announced its initial public offering with a price band of Rs 85 to Rs 90 per share. The Rs 759.6 crore issue is entirely a fresh offer and will open for subscription on July 24, closing on July 28.
The project sprawling 2.5 million square feet is located in Perambur.
Eighty percent of the upcoming launches will be in the mid-income segment, with ticket sizes ranging between Rs 80 lakh to Rs 1.5 crore.
The reality firm has signed a contract with the TVS Group's Mount Road property in Chennai for a 1 million sq ft of mixed-use development.
The company has signed a Joint Development Agreement (JDA) to develop around 2.1 million square feet in Chennai, Brigade Group said in a statement.
The property is located on Palace Road, Vasanthanagar, Bengaluru and spread across an area of 4,328 sq ft
Razack said Prestige group will have 70 percent shareholding in the project while Brigade will have 30 percent stake.
The last three months have seen the city's preferred realty corridor turn into a hotbed of commercial deals.
Indian property developers expect to generate business worth USD 54 million during 3-day exhibition scheduled here from June 21-23, organisers have said.
Real estate developers in Bangalore see outright sale of projects as killing the goose that lays the golden egg.
