NRI Real Estate and Property Investment in India
 |  WWW.NRIREALTYNEWS.COM
 
Capital Markets Await Mega IPOs; DLF Oversubscribed 3.4 times
Friday, June 15, 2007

On the third day of its initial public offering, DLF was subscribed by more than 3 times the 175 million shares on offer, with institutional investors and high net worth individuals forming the chunk of the applicants. The 104.4 million shares reserved for institutional investments have been oversubscribed over 5 times, though the retail portion is yet to pick up.

The price per share, on a band of Rs.500 to Rs.550 is likely to be decided before the week closes. Meanwhile, Omaxe Ltd. is working on its IPO to raise Rs.1, 400 crore from the capital market next month in July.

Omaxe had received SEBIís approval for a public issue in May, and the company is in discussions with merchant bankers on the price-band it can offer. Omaxe would offer 1.78 crore equity shares of Rs.10 each through the 100% book building process, which would represent 11.20% of the paid-up capital of the company if the green shoe option of 17.5 lakh shares is exercised.

Omaxe has a land bank of 3000 acres and 47 projects are in various phases of construction. ICICI Bank is preparing to go public with Indiaís biggest sale of shares to raise Rs.175 billion, split equally in the domestic and overseas markets. The sale may even go up to Rs.201 billion rupees if the demand exists.

The bank would deploy the funds in growing segments like infrastructure and manufacturing, which it expects will require USD 500 billion in the next 3 years.

Merrill Lynch, Goldman Sachs and JP Morgan Chase are working with ICICI Bank to sell its shares in the domestic and overseas markets. JM Morgan Stanley and Enam Financial Consultants are also partnering the Indian portion of the public issue.

Other banks in queue in the capital market are HDFC Bank, UTI Bank and State Bank. HDFC Bank is likely to hit the market in July, and would utilise the capital to meet growing credit demands and higher capital adequacy.

Related Readings

ICICI Gears Up for Jumbo Issue; DLF closes on Rs.525 per share

Add to your Social Bookmarks:
ADD TO DEL.ICIO.US ADD TO DIGG ADD TO FURL ADD TO NEWSVINE ADD TO NETSCAPE ADD TO REDDIT ADD TO STUMBLEUPON
ADD TO TECHNORATI FAVORITES ADD TO SQUIDOO ADD TO WINDOWS LIVE ADD TO YAHOO MYWEB ADD TO ASK ADD TO GOOGLE  


Related Websites
Advertise it for less | FSBO USA Realty
Advertise your for sale properties for less! Six month free listing. Friendly rates, pictures, video's always included!
Broward Real Estate
Tips for Selling or Buying homes in Broward County Florida
Sell Your Dallas-Fort Worth, Texas House FAST!
I want to buy YOUR house! We are not realtors, nor are we associated with any real estate agency. We don't want to list your house, we want to buy it. There are never any fees, commissions, or other charges to you.
Clearwater Real Estate
Investment properties, rental properties, residential properties and work at home resources.

 

 

Return to India

NRI INSURANCE

NRI SERVICES

 

Indian Cities Guide

DELHI   NOIDA   GHAZIABAD
         
GURGAON   MUMBAI   AHMEDABAD
         
KOLKATA   CHENNAI   HYDERABAD
         
BANGALORE   PUNE   CHANDIGARH
         
..More cities »
NRI Communities in Different Countries  
Indian Embassies & Consulates in Different Countries
 
NRI Newsletters  
NRI Feeds - Syndications