Pune based real estate developer, Kolte-Patil Developers, will list on the bourses on December 13, 2007. Analysts told Moneycontrol.com that the stock is likely to list above Rs 200 and advised to book profits above Rs 250.
R S Iyer of K R Choksey Securities said, "Kolte Patil is expected to list at around Rs 200-215. Above Rs 250, one can book profits."
"Kolte Patil Developers is likely to list at Rs 230 against its issue price of Rs 145. Investors are advised to hold", Investment Advisor, S P Tulsian said.
The company had entered capital market with an public issue of 19,000,836 equity shares of Rs 10 each for cash at a price band between Rs 125 and Rs 145 per equity share.
The objects of the issue were to finance acquisition of development rights; finance the construction and development costs for some of the proposed projects; fund expenditure for general corporate purposes and achieve the benefits of listing on the Stock Exchange.
The book running lead managers to the issue are DSP Merrill Lynch Limited and Edelweiss Capital Limited.
Source: Moneycontrol.com
Wednesday, December 12, 2007
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