Recently, Omaxe Ltd (Omaxe largely operates in North India) has filed a red herring prospectus with the regulator for an initial public offering. The nearby sources (Involved in the deal) revealed that this IPO could raise money to the tune of Rs. 15 Billion ($339 million).
The sources also said that the company has decided to sell up to 11.2% of it;’s equity in the IPO, which will include a green shoe option of 1.75 million shares.
FYI: Omaxe has registered a net profit of Rs. 1.03 billion and operating income of Rs. 5.90 billion, the half yearly period till September 2006.
