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Tanuj · 17-07-07

New Delhi-based real estate player Omaxe is set to tap primary market via initial public offering (IPO) to mop-up funds to invest in its expansion plans.

Omaxe priced its issue in the range of Rs 265 to Rs 310 a share. The issue opens on July 17 and closes on July 20. The shares of the company will list on both BSE and NSE.

Omaxe primarily intends to deploy the issue proceeds of Rs 6,750.09 million to fund the land acquisition cost, repayment of loans, development & construction cost. The fund will also be utilising for brand building exercise and mergers & acquisitions activity.

The issue is being made through the 100% book building process where upto 50% of the net issue to the public shall be allocated on a proportionate basis to qualified institutional buyers (QIB). A total of 5% of the QIB portion shall be available for mutual funds and the remainder of the QIB portion shall be available for all QIBs, including mutual funds.

Further, atleast 15% of the net issue to the public shall be available for non-institutional bidders and atleast 35% of the net issue to the public shall be available for retail individual bidders. Omaxe is offering its shares at discount based on P/E valuation compared with its peers and industry average. The shares of the company are available at P/E multiple of 16x to 18.7x at floor and cap price respectively, based on the earnings reported for fiscal 2007, as against its peers Ansal Properties and Unitech, which are available at P/E multiple of about 35.9x and 59.4x respectively, while the industry average is 59.1x.

Incorporated in 1989, Omaxe is a real estate development and construction company with operations in 30 cities and 9 states in India. Since the inception of the company, it has completed 120 construction projects. In 2001, Omaxe diversified into the real estate development business with a focus on residential and commercial properties. As of Mar. 31, 2007 Omaxe has completed 8 residential projects covering nearly 5.13 million sq. ft. of area. Omaxe holds 3,255 acres of land reserve including joint ventures and collaborations as of Mar 31, 2007.

Source: myiris.com
Date: 17/07/07

17-07-07	#1
Tanuj New Member Join Date: Oct 2006 Posts: 45 Thanks: 0 Thanked 0 Times in 0 Posts	Omaxe IPO to hit market on July 17 New Delhi-based real estate player Omaxe is set to tap primary market via initial public offering (IPO) to mop-up funds to invest in its expansion plans. Omaxe priced its issue in the range of Rs 265 to Rs 310 a share. The issue opens on July 17 and closes on July 20. The shares of the company will list on both BSE and NSE. Omaxe primarily intends to deploy the issue proceeds of Rs 6,750.09 million to fund the land acquisition cost, repayment of loans, development & construction cost. The fund will also be utilising for brand building exercise and mergers & acquisitions activity. The issue is being made through the 100% book building process where upto 50% of the net issue to the public shall be allocated on a proportionate basis to qualified institutional buyers (QIB). A total of 5% of the QIB portion shall be available for mutual funds and the remainder of the QIB portion shall be available for all QIBs, including mutual funds. Further, atleast 15% of the net issue to the public shall be available for non-institutional bidders and atleast 35% of the net issue to the public shall be available for retail individual bidders. Omaxe is offering its shares at discount based on P/E valuation compared with its peers and industry average. The shares of the company are available at P/E multiple of 16x to 18.7x at floor and cap price respectively, based on the earnings reported for fiscal 2007, as against its peers Ansal Properties and Unitech, which are available at P/E multiple of about 35.9x and 59.4x respectively, while the industry average is 59.1x. Incorporated in 1989, Omaxe is a real estate development and construction company with operations in 30 cities and 9 states in India. Since the inception of the company, it has completed 120 construction projects. In 2001, Omaxe diversified into the real estate development business with a focus on residential and commercial properties. As of Mar. 31, 2007 Omaxe has completed 8 residential projects covering nearly 5.13 million sq. ft. of area. Omaxe holds 3,255 acres of land reserve including joint ventures and collaborations as of Mar 31, 2007. Source: myiris.com Date: 17/07/07