Mumbai, Nov 7 (UNI) Sobha Developers (SDL), one of India's leading real estate development and construction companies, today announced that they are proposing an Initial Public Offering (IPO) of its equity shares.
The company has filed its Red Herring Prospectus with the Registrar of Companies, Karnataka. SDL proposes to issue 8,893,332 equity shares of Rs ten each at a price band of Rs 550-Rs 640 per share through the 100 per cent Book Building Process.
The IPO comprises a reservation of up to 889,300 equity shares for SDL's permanent employees and a net issue to the public of 8,004,032 equity shares and would constitute 12.20 per cent of the fully diluted capital of SDL.
The IPO is scheduled to open on November 23 and close on November 29,2006, a release issued by the company said.
UNI AR WD NV1817
The company has filed its Red Herring Prospectus with the Registrar of Companies, Karnataka. SDL proposes to issue 8,893,332 equity shares of Rs ten each at a price band of Rs 550-Rs 640 per share through the 100 per cent Book Building Process.
The IPO comprises a reservation of up to 889,300 equity shares for SDL's permanent employees and a net issue to the public of 8,004,032 equity shares and would constitute 12.20 per cent of the fully diluted capital of SDL.
The IPO is scheduled to open on November 23 and close on November 29,2006, a release issued by the company said.
UNI AR WD NV1817
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