indian-developer-seeks-137-million-from-ipo

Indian developer seeks $137 million from IPO

The institutional tranche of Omaxe's IPO is 4.5 times subscribed after the first two days of bookbuilding.
Indian real estate developer Omaxe Limited has attracted healthy demand for its initial public offering during the first two days of bookbuilding, leaving the institutional tranche 4.5 times subscribed and the whole deal 3.1 times covered as of yesterday.

The company aims to raise up to Rs5.5 billion $137 million from the offering, which comprises roughly 17.8 million new shares, or 10.3% of its enlarged capital. If the 9.8% greenshoe is fully exercised, the deal size could increase to $150 million. The shares are offered at a price ranging from Rs265 to Rs310 apiece.

Omaxe started its business in 1989 as a construction and contracting company, and diversified into real estate development in 2001, with...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222