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Tanuj · 10-07-07

Real estate developer Omaxe Ltd plans to raise about Rs 550 crore through its initial public offering (IPO). The price band has been fixed at Rs 265-310 per share for the issue.

The public offer will open on July 17 and close on July 20. Omaxe’s issue comes close on the heels of successful IPOs of real estate giant DLF and HDIL. The company received Sebi’s approval for its IPO on May 22. It had filed the draft red herring prospectus with the regulator in December. Omaxe proposes to enter the capital market with a public issue of about 1.78 crore equity shares of Rs 10 each through a 100 per cent book-building process.

About 1.75 crore equity shares are for the public, while the balance 2.96 lakh shares will be reserved for eligible employees. There will also be a greenshoe option of 17.5 lakh equity shares. The issue will constitute 11.20 per cent of the fully diluted post-issue paid-up capital of the company, if the greenshoe option is exercised and 10.30 per cent, if the option is not exercised.
The company will raise about Rs 550 crore at the upper band, much lower than its earlier target of Rs 1,400 crore. Omaxe has projects and land reserves in 30 cities and nine states. About Rs 500 crore of the proceeds will be used for payments related to land, Rs 236 crore towards repayment of loans and Rs 699 crore to fund development and construction costs.

New Delhi-based Omaxe has a land bank of over 3,000 acres and has 47 projects are under development. DSP Merrill Lynch, Citigroup Global Markets India and UBS Securities India are the global coordinators and joint book-running lead managers to the issue.

Source: The Telegraph
Date: 10/7/07

10-07-07	#1
Tanuj New Member Join Date: Oct 2006 Posts: 45 Thanks: 0 Thanked 0 Times in 0 Posts	Omaxe to raise Rs 550cr via IPO Real estate developer Omaxe Ltd plans to raise about Rs 550 crore through its initial public offering (IPO). The price band has been fixed at Rs 265-310 per share for the issue. The public offer will open on July 17 and close on July 20. Omaxe’s issue comes close on the heels of successful IPOs of real estate giant DLF and HDIL. The company received Sebi’s approval for its IPO on May 22. It had filed the draft red herring prospectus with the regulator in December. Omaxe proposes to enter the capital market with a public issue of about 1.78 crore equity shares of Rs 10 each through a 100 per cent book-building process. About 1.75 crore equity shares are for the public, while the balance 2.96 lakh shares will be reserved for eligible employees. There will also be a greenshoe option of 17.5 lakh equity shares. The issue will constitute 11.20 per cent of the fully diluted post-issue paid-up capital of the company, if the greenshoe option is exercised and 10.30 per cent, if the option is not exercised. The company will raise about Rs 550 crore at the upper band, much lower than its earlier target of Rs 1,400 crore. Omaxe has projects and land reserves in 30 cities and nine states. About Rs 500 crore of the proceeds will be used for payments related to land, Rs 236 crore towards repayment of loans and Rs 699 crore to fund development and construction costs. New Delhi-based Omaxe has a land bank of over 3,000 acres and has 47 projects are under development. DSP Merrill Lynch, Citigroup Global Markets India and UBS Securities India are the global coordinators and joint book-running lead managers to the issue. Source: The Telegraph Date: 10/7/07