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.

• Written by Reuters
• May 22, 2013 01:25 PM IST
1 min read

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.

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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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