19 Jul 07 IVR Prime Urban Developers Limited IPO : IVR Prime IPO opens for Subscription on 23rd
IVR Prime Urban Developers Limited, the real estate arm and subsidiary of Hyderabad based construction and infrastructure development company, IVRCL Infrastructures, is coming out with an IPO through the book building process. The IVR Prime Urban Developers Limited IPO will open for subscription on 23rd July 2007 and will close for subscription on 26th July 2007. IVR Prime Urban Developers Limited has fixed the price band for the IPO between Rs. 510 and Rs. 600 per share. Though IVR Prime Urban Developers Limited is also into construction of hotels, malls and software parks, the main focus of IVR Prime Urban Developers Limited is on constructing integrated townships through which IVR Prime aims to provide affordable residential appartments in the sub Rs. 20 lakh category. As per the RHP, IVR Prime Urban Developers Limited will use the proceeds of the IPO to develop residential and commercial properties. IVR Prime Urban Developers Limited will also use the funds raised through the IPO for repayment of loans. IVR Prime Urban Developers Limited has a land reserve of about 2,500 acres of which more than half is located in Chennai. Post IPO, the shares of IVR Prime Urban Developers Limited will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The lead managers for the IVR Prime IPO are Enam and Kotak. The registrar for the IVR Prime IPO is Karvy Computershare Private Limited. For updates on the subscription / oversubscription ratio of the IVR Prime Urban Developers Ltd IPO and to know the IPO allotment status, refund details and listing date of the IVR Prime Urban Developers Ltd. IPO, do check this blog regularly. The IPO issue size of IVR Prime Urban Developers IPO is about Rs. 1000 crores. Retail portion is about Rs. 400 crores. Hence allotment will be good since the issue size is pretty large.
IVR Prime Urban Developers Limited IPO Prospectus
For more information, read the Red Herring prospectus of the IVR Prime Urban Developers Limited IPO Issue.
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