Kolte Patil issue has been recently completed and like Dhanus Technlogies there is a new problem with the Kolte Patil Public issue also. SEBI has guided Kolte-patil to give exit option to the investors who have invested in the issue.
In an statement issued by the Kolte-patil the company has said, that from now onwards till the end date of 4th December, investors can withdraw their applications if they like from the issue. The issue raised following a litigation faced in relation to the company’s ‘Whispering Meadows’ project and the company has not clearly mentioned these legal cases in their Draft prospectus.
It is intresting to watch now how many investors stay invested and whether there would be any action in the QIB’s pulling out from the issue.
14 comments ↓
what are the chances of allotment,
I have applied for 8 lots.
how i can exit from kolte
Hi,
Thanks for let us know well in advance. Could you elaborate the issue what was happend with Kolte-Patil developers? Why SEBI asked like that?
Thanks and regards,
Shravan
Shravan > Dispute is regarding the claims made by said C. V. L. Sastry against Kolte Patil Developers in respect of its Project Whispering Meadows II.
Out of 35,000 sq. ft. of super built up area claimed, Kolte Patil Developers has handed over 20,560 sq. ft. of super built up area to NTI Society, through which Mr. Sastry is claiming his rights against Kolte Patil Developers, and remaining area would be handed over in its Whispering Meadows Phase II.
As directed by Supreme Court, Kolte Patil Developers has also deposited Rs. 3.5 crores with the IDBI Bank.
The dispute of 14,440 sq. ft. is insignificant compared to overall projects of 39.38 million sq. ft. being developed by Kolte Patil Developers and considering insignificant nature of the dispute, Investors need not withdraw from the Issue and stay invested.
if we exit from Kolte-Patil when can we get the money back?
Ranjith > It should take the normal processing times. It should take another 20 days.
pls give me detail proceses to take mony back.
What is the process of exit from the issue
Is it better to stay invested or use the exit option?
Hi, what is the procedure to exit and should we stay invested with kolte patil if its a temporary problem
We can stay invested in the IPO as the problem is very small, as you know the procedures are standard for any company to deal with and SEBI has to respectively to act and take measures. One can stay invested. If you would like to withdraw then contact the registrar or with the broker whom you have applied with.
On what date we can expect the allotment status?
see kote patil or anoter its not a fundamentaly strong cashing on booming ifra sector in india if you invest sae buy ntpc buy state bank of india buy ranbaxy buy south indian bank if not atleaest buy murudeshwar ceramic it will take allthe benifit of kote patil its cheap 107 andifv you cant buy katwa udy0g at21
Do we still have a chance to exit or still wait? When this issue will be sorted?
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