Lavasa IPO : Files DRHP With SEBI

by khalid on 15/09/2010 · 0 comments

Lavasa Corporation is. a subsidiary of infrastructure major Hindustan Construction Company (HCC).  The company is planning to enter capital market with its maiden public issue aggregating upto Rs 2000 crore for equity shares of face value Rs 10 each. The company has filed a Draft Red Herring Prospectus (DRHP) on 14th Sep 2010 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The issue is likely to hit market in month of December 2010.

Lavasa, near Pune in Maharashtra, is being developed by Lavasa Corporation as a hill city spread across 12,500 acre. HCC holds 64.99 per cent stake in Lavasa Corporation, while other shareholders include Avantha Group, Venkateshwara Hatcheries and other private investors.

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

Book running lead managers to the issue are Morgan Stanley, Kotak Mahindra Capital, Axis Bank and ICICI Securities.

Registrar of the Issue : Link Intime (India).

Stay tuned to BelltheBull Blog for more on Lavasa IPO !

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