Godrej Properties Ltd. (GPL) incorporated in February 1985 is coming up with the intial public offering 94.3 Lacs equity shares of Rs. 10 in the price band of Rs 490 to Rs 530 on 9th December. The issue will close on 11th December.
GPL’s business focuses on residential, commercial and township developments. Currently, the company has real estate development projects in 10 cities in India which are at various stages of development. It has total land reserves of 391.04 acres, aggregating to approximately 82.74 million sq. ft. of developable area and 50.21 million sq. ft. of saleable area, which includes ongoing projects and forthcoming projects. GPL has completed a total of 23 projects comprising 16 residential and 7 commercial projects, aggregating approximately 5.13 million sq. ft. of developed area.
Issue Objectives
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to:
- Acquisition of land development rights for Forthcoming Projects
- Construction of their Forthcoming Project
- Repayment of loans
- General Corporate Purposes
Issue Open: Dec 09, 2009 - Dec 11, 2009
Issue Type: 100% Book Built Issue IPO
Issue Size: 9,429,750 Equity Shares of Rs. 10
Issue Size: Rs. 462.06 - 499.78 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 490 - Rs. 530 Per Equity Share
Market Lot: 13 Shares
Minimum Order Quantity: 13 Shares
Listing At: BSE, NSE
For our analysis, visit our IPO Center
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