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GPL fixes IPO price band

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Godrej Properties Ltd (GPL) is all set to raid into the capital market with its first IPO with price tags fixed Rs. 490-530 per equity share for the Initial Public Offer equity shares of Rs. 10 each. Speaking to the www.propertykhazana.com, Godrej Group Chairman Mr. Adi Godrej says that Godrej Properties Limited, realty limb of Godrej is having its active realty presence in more than 10 Indian cities and though not having land bank, however develops lands on JV basis, he added.
Adding his statement at the www.propertykhazana.com , The ED of the company Mr. Pirojsha Godrej says that, GPL is on big plans as far as the land acquirement is concerned and will put in more than Rs. 205 crores while another Rs. 170 crores for debt settlement.
Godrej Properties Limited is very watchful at the market and looking for a mixed used development projects in Gujarat. If the revealed source at the www.propertykhazana.com is believed then the GPL is preparing to implement a mega project covering residential, commercial, hospital and hospitality project in Ahmedabad which will cover a land mass of about 335 acres. Group Chairman Adi Godrej is keen on Ahmedabad, because of its investment potential and at the same time, the increasing life style and demand is also taken into consideration. He also disclosed that GPL has joined hands with major infrastructure company L&T for undertaking the proposed projects. For more and latest real estate updates browse www.propertykhazana.com.
Source: NBTVLIVE

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