After DLF, one more famous name Omaxe Ltd. in Indian Realty is now to rise funds with its IPO, but it might keep its share rate low than its competitor DLF in a bid to encourage potential investors, added the source at the www.propertykhazana.com. Though Omaxe has not decided anything about the rate for the matter but it is estimated to be less than Rs. 500 a share.
Company is presently holding discussions with merchant bankers to turn up at a polite rate band and DLF IPO is hyped as the main share auction to beat the Indian market. DLF offer fetched a high of Rs. 9,187 Crores from the market at Rs. 525 a share against to this, Omaxe waiting to produce Rs. 890 Crores at Rs. 500 a share. Rating will be leftover as a vital issue in the process, any company desiring to draw big interest from investors must rate its shares at low rate brand, said Suruchi Kapoor an analyst with SAL Securities Pvt. Ltd to the www.propertykhazana.com.
Omaxe had filed its red herring brochure with market regulator SEBI in December and is permitted for its IPO in May end. Company will use the raised capital to make payments for property, repay loans and construction costs. Total equity hover, 17.5 Million equity shares are for the public and the leftover 2.97 Lakhs shares is for the company. As well, an extra 1.75 Million equity shares has been preserved for green shoe options. If in case the green shoe option is brought into outcome, then Omaxe IPO will include 11.2% of the completely weak post matter paid up capital of the company and 10.3% if the option is not used.
Source: NIMMA BENGALURU
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