DB Realty IPO : Filed papers to raise Rs 1500 cr

by khalid on 02/10/2009 · 0 comments

DB Realty

DB Realty is a Mumbai based builder informed the market that they filed papers with market regulator SEBI for an IPO of Rs 1500 crore. The IPO will have a greenshoe option of Rs 150 crore. DB Realty also joined the bandwagon of real estate companies planning to raise funds from the primary market.

DB Realty, jointly promoted by Vinod Goenka and Shahid Balwa, has 10 ongoing projects, aggregating approximately 18.61 million sq ft of saleable areas.

Analysts are of the view that the real estate companies are raising funds mainly to pay off the expensive loans taken from the banks and financial institutions.

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