The initial public offer of Brigade Enterprises, a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, has been subscribed 13.05 times, till 6 pm, according to data available on NSE website.
The issue received bids for 21.7 crore equity shares as against 1.66 crore shares on offer.
The company had entered capital market with an initial public offering of 16,624,720 equity shares of Rs 10 each for cash, at a price band of Rs 351-390 per equity share.
The equity shares offered through this issue are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.
The primary objective of the issue is to fuel the future growth plans of the company, including by way of acquisition of land, meeting construction and development costs in relation to the Company’s ongoing and forthcoming real estate projects and general corporate purposes.
The global co-ordinators and book running lead managers to the issue are J P Morgan India Private Limited and Enam Securities Private Limited and the book running lead manager is ICICI Securities Limited.
Source: Moneycontrol.com
Thursday, December 13, 2007
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