NRI Real Estate and Property Investment in India
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Realty Firms Eye Capital Markets for Funds
Tuesday, September 25, 2007

A slew of public issues from the Indian realty sector are in the offing. Here’s an update on the plans of real estate India firms: Vascon Engineers will dilute 10% or 35 lakh shares through an IPO by the end of the year, hoping to raise Rs.450 crore from the bourses.

Merrill Lynch and Kotak Securities, the company’s merchant bankers, are working on a price band of Rs.1,000 to Rs.1,300 per share with a face value of Rs.10/- Pune based Vascon has approximately 17 to 20 million sq. ft under development presently in Mumbai, Goa, Pune, Gujarat, Punjab and Himachal Pradesh.

Bangalore’s Brigade Enterprises has filed a draft offer document with the SEBI for an IPO of 16.62 lakh shares to fund its land acquisition and project development costs.

The Future Group is embarking on a massive capital raising exercise soon, and is expected to file a draft prospectus with SEBI in December 2007/January 2008.

The company is targeting a figure of Rs.2000 crore to fund its expansion projects. The Supreme Infrastructure IPO, available within the price band of Rs.95 to Rs.108 will close on September 26.

The company has executed road and highway projects and laid tracks on the Kurla-Thane route for the MUTP project.

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