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This is an archive article published on May 22, 2013

Puravankara Projects Limited sets price band for 33 mn share issue

Company aims to sell 21.57 million shares to qualified institutional investors on Thursday.

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Real estate developer Puravankara Projects Limited has set a price band of 80 rupees to 85 rupees for its up to 1.84 billion rupees 33.2 million share sale,it said in a statement late on Tuesday.

The company aims to sell 21.57 million shares to qualified institutional investors on Thursday.

Axis Capital,JP Morgan and Kotak Mahindra Capital Co are the book-running lead managers to the issue.

Shares of Puravankara,valued by the market at about 371 million,ended at 95.65 rupees on Tuesday.

Earlier this month,DLF Ltd,India8217;s biggest real estate company by market value,raised about 337 million through a share sale to qualified institutional investors.

 

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