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Godrej Ind spurts on realty arm IPO buzz
This article was posted on Jul 16, 2009 and is filed under Stock News
The company may raise anywhere between Rs 4.5bn and Rs 6bn.
Shares of Godrej Industries are locked at 10% upper circuit to Rs135.80. The stock opened at Rs127.4 and made an intra-day high of Rs135.7 and a low of Rs126.6. Total traded volumes stood at 0.7mn shares.
Godrej Properties, the real estate arm of the Godrej group, has received the SEBI approval to raise funds through an IPO, according to a report.
The report stated that the company would sell around 10% through the IPO, while another 3.5% would be offered to some select institutions in a pre-IPO placement.
The company may raise anywhere between Rs 4.5bn and Rs 6bn.
source: Indiainfoline
Tags: buy or sell godrej stocks, godrej industries, IPO
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