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Journalism of Courage
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,India’s biggest real estate company by market value,raised about $337 million through a share sale to qualified institutional investors.
