Parsvnath Developers, the Delhi based real estate company, has sought for shareholders’ approval to raise up to Rs 1,500 crore through issue of equity shares or other securities to finance its projects and pare debt. It plans to issue the securities to public as well as institutional investors through various routes including public offer and Qualified Institutional Placement (QIP) of shares.
The company will use these funds to meet its funding requirement for execution of projects, repayment of high cost loans and general corporate purposes and to augment its financial position.
Parsvnath Developers is one of India’s leading real estate developers. The company has emerged as one of the most progressive and multi-faceted real estate and construction entities in the country.
| Company Name | CMP |
|---|---|
| Lodha Developers | 899.50 |
| Dilip Buildcon | 430.30 |
| Oberoi Realty | 1622.90 |
| DLF | 588.20 |
| Ahluwalia Contract(I | 797.05 |
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