Puravankara Projects fixes Issue Price at Rs 400/Share

Puravankara Projects, south based real estate player, has fixed issue price, of its initial public offering (IPO) of 21,467,610 equity shares of Rs 5 each, at Rs 400 per share at lower end of price band.

The issue was subscribed 1.91 times, with the support from qualified institutional investors followed by HNIs and retail with small subscription.

The company had revised its price band to Rs 400-450 from Rs 500- 525 per share and also extended date by 5 days due to undersubscription during earlier period from July 31 to August 3, 2007.