Housing Development and Infrastructure Limited, known as HDIL in shortÃ‚Â is all set to tap the Indian capital markets through an IPO. The HDIL IPO opens for subscription on 28 June,Ã‚Â 2007 and closes for subscription onÃ‚Â July 03, 2007. The price band for HDIL IPO has been fixed between Rs. 430Ã‚Â to Rs.Ã‚Â 500 per share. HDIL’s portfolio and profile is similar to Akruti Nirman. Just like Akruti Nirman, HDIL concentrates on Mumbai’s slum rehabiliation projects. Housing Development and Infrastructure Limited is a group company ofÃ‚Â Dewan Housing Finance.Ã‚Â Housing Development and Infrastructure Limited (HDIL) currently has nearly 10 lakh sq. ft. of land in Mumbai’s popular Business area, the bandra Kurla complex (BKC). The Bandra Kurla Complex is the heart of India’s financial system and consists of majestic skyscrapers of steel and glass housing India’s leading financial institutions like SEBI, National Stock Exchange, ICICI Bank, Citibank and many others. Housing Development and Infrastructure Limited rehabiliated the slum dwellers in Bandra Kurla Complex area by providing them houses elsewhere and hence was allotted part of the land occupied by the slum dwellers. HDIL had sold some of this land to the Adani group for Rs. 2250 crores. The total land bank in possession of HDIL is valued at Rs. 21,500 crores. HDIL is planning to construct a 7 star hotel in the posh Juhu Beach area in Mumbai. Post IPO, the shares of HDILÃ‚Â will be listedÃ‚Â both on the stock exchange, Mumbai (BSE)Ã‚Â and on theÃ‚Â National Stock Exchange (NSE). The lead managers for theÃ‚Â HDIL IPOÃ‚Â are Enam Financial Consultants and Kotak Mahindra capital. The registrar for the HDILÃ‚Â IPOÃ‚Â has still not been announced. For updates on the subscription / oversubscription ratio of HDIL Ltd IPO and to know the IPO allotment status, refund details and listing date of HDILÃ‚Â IPO, do check this blog regularly.
Housing Development and Infrastructure Limited (HDIL)Ã‚Â IPO Prospectus
For more information, read the Draft Red Herring prospectus of the HDIL IPO Issue.