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IPO Being Planned By the Group of Godrej in Coming Ten Months

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The Godrej group realtors, a realty limb of Godrej Properties Ltd. is aiming to go for initial public offering (IPO) during the next ten months. Disclosing this a top official of the company said at the www.propertykhazana.com that they have filed their prospectus and sanction for of the same may be taken from SEBI (Securities & Exchange Board of India) to generate income by way of IPO in June as the market s are being favorable.
The generated funds would be put into Godrej Properties and also there would no sale of shares further by the Group of Godrej. The group of Godrej currently holds a stake of 80.5% and they are permitted to give 10% to public - being the required minimum and for pre-IPO 3.5%. The group head of Godrej says that they would take a final view within some two days as per the advice of the bankers. Godrej group are said to be foremost developers in India whose main interest is in the field of developing of commercial, residential and township. For more and latest realty updates follow www.propertykhazana.com.
Source: NBTVLIVE

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