Kolte Patil IPO: Kolte Patil Developers Limited is planning to enter the capital markets with an public issue of 18,812,709 equity shares of Rs. 10 each with a price band of Rs. 125 to Rs. 145 per share.
Subscription of Kolte Patil IPO begins on November 19th, 2007 and will close for subscription on November 22, 2007.
Reservation of 188,127 equity shares is reserved for eligible employees out of the net issue size. Net Issue will constitute 25% of the post-Issue paid up capital of the Company.
Of the total issue size, Qualified Institutional portion will be not more than 50% . Non Institutional portion will be not less than 15% and the remaining 35% will be available to the Retail investors.
Details/Review of Kolte Patil Developers IPO:
About Kolte Patil Developers: Kolte-Patil Developers Limited started in 1991, as a Real estate developer and construction of properties in Bangalore and Pune. The company has till now executed 25 projects out of which 3 are in Bangalore and 22 in Pune. Out of the total 25 projects, 16 are residential complexes, 4 commercial and 2 are IT Parks. All the projects completed cover 4.01 million square feet of saleable area.
Kolte Patil Developers is currently developing 28 projects with an aim of selling 17.80 million square feet. The company has received the Government of Maharashtra’s first prize for “Best IT Infrastructure in the State of Maharashtra ” for its GigaSpace I.T. Park project in Viman Nagar, Pune.
Financials of the company
For the fiscal 2007, Kolte Patil Developers consolidated total income stood at Rs.2,524.43 million and profit after tax at Rs.835.61 million. The Company’s Consolidated total income stood at Rs.889.65 million and profit after tax at Rs.338.76 million for quarter ended June 30, 2007 .
Objectives of the Kolte Patil IPO: To finance acquisition of development rights; finance the construction and development costs for some of the proposed projects; fund expenditure for general corporate purposes.
The Book Running Lead Managers to the IPO are DSP Merrill Lynch Limited and Edelweiss Capital Limited. Registrar to the Kolte Patil Developers IPO is Bigshare Capital Services Private Limited. Post IPO the Equity Shares are proposed to be listed on BSE and NSE.
For more information regarding the Kolte Patil IPO Subscription, Allotment and other details of the Kolte Patil Developers IPO do check this blog regularly.
2 comments ↓
Nice Information
I would say to invest in this Stock to get good returns.
Because this stock is good for all time perspective Short, Medium and Long Term as well.
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