Indian real estate play ready to test investor demand

Parsvnath's $222 million offer will be the first Indian real estate IPO open to foreigners.

Indian real estate company Parsvnath Developers has started marketing an initial public offering worth up to Rs9.97 billion $222 million that will be the first real test of investor demand following a two-and-a-half month drought in Indian equity issues.

Following a rule change earlier this year, ParsvnathÆs offer also marks the first time that foreigners will be allowed to buy into an Indian property company during the IPO. This should help to underpin the interest from dedicated property investors...

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