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Puravankara Projects surges on plan to issue 2.15 crore equity shares via IPP

16 May 2013 Evaluate

Puravankara Projects is currently trading at Rs. 97.40, up by 3.20 points or 3.40% from its previous closing of Rs. 94.20 on the BSE.

The scrip opened at Rs. 95.30 and has touched a high and low of Rs. 99.45 and Rs. 95.10 respectively. So far 10630 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 122.80 on 18-Jan-2013 and a 52 week low of Rs. 55.05 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 99.45 and Rs. 92.50 respectively. The current market cap of the company is Rs. 2070.22 crore.

The promoters holding in the company stood at 89.96% while Institutions and Non-Institutions held 8.17% and 1.87% respectively.

After DLF, Bangalore-based real estate developer Puravankara Projects has proposed to issue equity shares to Qualified Institutional Buyers (QIB’s) via Institutional Placement Programme (IPP). The company has decided to issue up to 2.15 crore shares of Rs 5 each to QIB’s, which at current valuations would fetch the company a sum of Rs 200 crore. However, the company is yet to decide on price and date of offering.

The company’s IPP committee of the board has decided to offer 2, 15, 68,501 equity shares of Rs 5 each, with a right to allot up to an additional number of 21, 56,850 shares if there is over-subscription, to eligible QIBs through an IPP. So far, IPP has been the preferred route for increasing the public shareholding by real estate companies, including Godrej Properties, DLF and Prestige Estates.

Puravankara Projects is a leading real estate company in India, with significant presence in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in the United Arab Emirates, Kingdom of Saudi Arabia and Sri Lanka.

Puravankara Share Price

225.55 0.15 (0.07%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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