Brigade Enterprises, a Bangalore-based real estate company focusing on the development of residential, commercial and hospitality properties, will enter the capital market with an initial public offering of 16,624,720 equity shares of Rs 10 each for cash, at a price to be decided through the 100% book building process.
The issue will open for subscription on December 10, 2007 and close on December 13, 2007. The price band has been fixed between Rs 351 and Rs 390 per equity share.
The issue comprises a net issue to the public of 16,524,720 equity shares and a reservation of up to 100,000 equity shares for the eligible employees. There will also be a green shoe option of up to 2,493,708 equity shares.
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
Saturday, December 8, 2007
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