Realty guns filing DRHP for IPO
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Realty guns like Lodha and Oberoi are in race to get the benifit of heating market situation. Lodha Developers has filed a Draft Red Herring Prospectus (DRHP) to the market regulator SEBI and is targeting to raise Rs 2790 crore through an IPO. Similarly Oberoi Constructions, yet another real estate major, too is looking to raise about Rs 1500 and filed DRHP for the same.
According to DRHP prepared by Oberoi’s to be filed within this month, they will issue 2.5 – 2.7 crore shares through the IPO. Oberoi Construction is a zero-debt company. Morgan Stanley already has a 10% stake in the company which it had picked up in January 2007. Kotak Mahindra and Enam Securities are likely to be lead book runners along with Goldman Sachs and JP Morgan.
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