Parsvnath Developers IPO - Indian Real Estate Forum

Armaan · 08-11-06

Parsvnath Developers IPO issue opens on November 6, 2006 and closes on November 10, 2006. The group opens the subscription with the objective of tapping the capital market to fund its future construction plans.

Entering the stock markets with an offering of 3.30 crore shares, priced within a band of Rs 250 to 300 each, Parsvnath Developers plans to raise funds in the range of Rs 826 crore to Rs 991 to fund its eleven residential and commercial projects spread over the next four years.

While money raised through the issue will fund a large part of the total requirement of Rs 1,428.5 crore, the rest will be financed by borrowings and customer advances.

Expresso · 08-11-06

News has it that.....

Parsvnath IPO fully subscribed on first day

Quote:

Real estate major Parsvnath Developers witnessed an impressive opening response for its Rs 1,000 crore initial public offer with the issue getting fully subscribed on the very first day.

The IPO, which opened for subscription today, received bids for about 4 crore shares by the afternoon against a total of 3.3 crore shares that were on offer.

Merchant banking sources close to the development said the issue was well received by the institutional investors, including the domestic and overseas funds, who are upbeat on the prospects of the Indian real estate and infrastructure sectors.

Parsvnath Developers which hit the capital market with a public issue of 3,30,38,000 equity shares with a price band of Rs 250-300 per share, constitutes 18.30 per cent of the company's fully diluted post-issue paid-up capital. The company has by far reserved up to two lakh equity shares for subscription by its employees.

- Economic times (Nov 6 '06)

Your take on it. How impressive? Can we believe it to be the last call to success? Or there are more factors to decide.....

08-11-06	#1
Armaan New Member Join Date: Oct 2006 Posts: 31 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 1	Parsvnath Developers IPO Parsvnath Developers IPO issue opens on November 6, 2006 and closes on November 10, 2006. The group opens the subscription with the objective of tapping the capital market to fund its future construction plans. Entering the stock markets with an offering of 3.30 crore shares, priced within a band of Rs 250 to 300 each, Parsvnath Developers plans to raise funds in the range of Rs 826 crore to Rs 991 to fund its eleven residential and commercial projects spread over the next four years. While money raised through the issue will fund a large part of the total requirement of Rs 1,428.5 crore, the rest will be financed by borrowings and customer advances. Last edited by Armaan; 08-11-06 at 03:41 PM.

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