Godrej Properties to list on Jan 5 ’09
Realty developer Godrej Properties, will be listed on the Bombay Stock Exchange (BSE) on January 5.
The company had fixed the issue price for its IPO at Rs 490 a share–the lower-end of price band, while the IPO was priced in the range of Rs 490-530 per share. The offer, opened on December 9 was subscribed four times and closed on December 11, raising Rs 462 crore.
The issue will constitute 13.5 per cent of the company’s post-issue capital, with at least 60 per cent of this reserved for institutional buyers and a minimum of 30 per cent set aside for retail investors. A minimum of 10 per cent is reserved for non- institutional buyers.
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