Casagrand Premier Builder has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 1,220 crore through an initial public offering (IPO). The company’s proposed maiden public offering is a fresh issue of equity shares worth Rs 1,200 crore and an offer for sale up to Rs 20 crore by promoters.
Proceeds from the fresh issue worth Rs 250 crore will be utilised by the company to repay its debt, while Rs 650 crore will go towards repaying debt of its subsidiaries and general corporate purposes. Motilal Oswal Investment Advisors and DAM Capital Advisors are the book-running lead managers to the issue. Shares of the company are proposed to be listed on the BSE and the NSE.
Incorporated in 2003, Casagrand Premier Builder claims to the largest developer in the residential sector and a well-known residential brand in Chennai.
| Company Name | CMP |
|---|---|
| Lodha Developers | 899.95 |
| Dilip Buildcon | 430.25 |
| Oberoi Realty | 1622.95 |
| DLF | 587.15 |
| Ahluwalia Contract(I | 798.50 |
| View more.. | |
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