Embassy Property Developments Limited IPO : CRISIL gives 4 out of 5

by khalid on 30/10/2010 · 0 comments

Embassy Property Developments Limited IPO has got 4 out of 5 by CRISIL (rating agency) and this rating/grading is average for a photovoltaic cells comapny. The grade 4 indicates that the fundamentals of the IPO are above average compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 2400 crores. The company is also going to consider a pre-IPO placement of Rs 1175 crore worth of equity shares. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has not been fixed yet. Embassy Property Developments Limited is Bangalore based infra development company founded in 1986.

The Promoters of the Company are Mr. Jitendra Virwani, JV Holding Pvt. Ltd. and JV Family Trust.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

Issue Detail:-
Issue Open : ——-–
Issue Type : 100% Book Built Issue IPO
Issue Size : Equity Shares of Rs 10 each
Issue Size : Rs. 2400 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. – Rs. Per Equity Share
Market Lot : Shares
Minimum Order Quantity : Shares
Listing At : BSE, NSE

The objects of the fresh issue :- The money raised from this IPO will be utilize by the company for for financing the construction and development of ongoing projects; investment in certain subsidiaries and associates for the construction and development of ongoing/proposed projects; paying certain loans and investment in certain subsidiaries and associates for prepayment and/or repayment of their loans.

Book Running Lead Managers (BRLMs) to the offer are Citigroup Global Markets India Private Limited and Edelweiss Capital Limited

Registrar of this issue is Karvy Computershare Private Limited Hyderabad .

Stay tuned to BelltheBull Blog for more on Embassy Property Developments Limited IPO!

Source :- BelltheBull

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