The realty records said the www.propertykhazana.com that the Bangalore based Sobha Developers, which has a global consideration with its projects, is on plans to spread its wings in almost all the major metros in India. The company is very selective on the localities and had shown intrest in implementing its plans in Hyderabad, Mysore, Pune, Madurai, Mangalore, Thrissur, Coimbatore, Jaipur, Goa and the NCR.
In continuation the land acquisition for the planned projects was in progress and Sobha Developers were happy to launch different kinds of projects majorly the hospitality projects. Sobha Developers target was to raise the funds of about 570 crores from its Initial Public Offer and the revealed source said the www.propertykhazana.com that the IPO would offer up to 89 Lakhs equity shares each of Rs 10 at a price band of 550 to 650 per share.
Speaking to the sources J K Nazerath, then the Director of Sales said that the company has already gathered the land of about 2750 acres in some of the 2 Tier cities and had to purchase the lands in the major cities. He also said that Sobha Developers welcomes joint ventures and by that time it had signed a JV agreement with the Reliance Energy for executing the Business District and Trade Towers for the Andhra Pradesh Infrastructure Corporation in Hyderabad.
Source: NIMMA BENGALURU
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