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Godrej Properties IPO | Indian IPO Detail

Posted By On 6:44 PM Under

The much awaited Godrej property IPO is about to be launched in the market and same has been priced between Rs 490-530 per equity share for its initial public offer. It is likely that Rs 500 crore is about to be taken from the market.

Approx 94.29 lakh equity shares constituting 13.5 per cent of the post issue paid-up capital of the company is about to be released in Public.

Godrej Properties, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company, plans to use Rs 203 crore for acquiring land for its forthcoming projects and spends Rs 172 crore for loan repayment.

Well IPO opens for subscription on December 9, 2009 and will close on December 11, 2009 and one can subscribe the issue as it is a good issue.Indian IPO from the stable of Godrej group is likely to give impetus to its listed shares in the market.
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