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Oberoi Group Realtors hopes to increase 1000 crores

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As per the source available with the www.propertykhazana.com, Oberoi group is planning to go for an IPO to mobilize Rs. 1000 crores in the coming year for its diversification programme. A spokesperson from the construction group says that the company wants to go for an IPO for mobilization of funds thereby not giving a hint on the amount to be mobilized. The spokesperson further adds that the company intends to mobilize huge amount. A source of the company’s bankers says at www.propertykhazana.com that they have an idea or mobilizing nearly 750 crores.
The company says it may keep separate 10-12% of mobilized funds acquired from the IPO. The promoters of the Oberoi group has a stake of 90% in the realty sector and 10% of the stake is held by the Morgan Stanley. The company’s value is around is $1.5 billion of which Morgan Stanley has acquired a stake of $152 billion.
Oberoi Constructions - a leading realtor in Mumbai and their promoter Vivek Oberoi is leading Indian Billionaire. A source from the group says that its total earnings may increase to Rs. 650 crores in the current year in comparison to Rs. 250 crores in the previous year. The company does not have any liabilities. For more and latest realty information browse www.propertykhazana.com.
Source: NBTVLIVE

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