Tuesday, October 12, 2010

IPO: Prestige Estates Projects Ltd - Rs 1200 crore by issuing 6.56 - 6.97 cr shares with a price band of Rs 172 – Rs 183 respectively

Prestige Estates Projects Ltd is having over 23 years of experience in real estate development, and is one of the leading real estate development companies in south India. It has completed 142 real estate projects of approximately 27.09 million sq. ft. The company has developed a diversified portfolio of real estate development projects focusing on projects in the residential, commercial, hospitality and retail segments of the real estate industry.

 

The company entering the capital market to raise Rs 1200 crore by issuing 6.56 - 6.97 cr shares with a price band of Rs 172 – Rs 183 respectively.

The issue opens on October 12 and closes on October 14.

 

At Rs 1310, the higher price of the band, the issue is available at a P/E of 3.24x.

 

Owing to strong execution record, good client base, and forthcoming projects suggest that there is lot of opportunities for the company in capital market. We recommend subscribe.

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