Godrej Properties Listing on Tuesday 05-Jan-2010

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MUMBAI: Realty developer Godrej Properties will be listed on the Bombay Stock Exchange (BSE) on January 5.

With effect from January 5, the company would list about 6.98 crore equity shares with a face value of Rs 10 each, the BSE said in a circular.

The company fixed the issue price for its IPO at Rs 490 a share, the lower end of price band, while the IPO was priced in the range of Rs 490-530 per share. The offer, opened on December 9 was subscribed four times and closed on December 11, raising Rs 4 62 crore.

The realty firm, which is promoted by Godrej Industries and Godrej & Boyce Manufacturing Company, intends to use the offer proceeds to acquire land, new projects and to repay loans. – PTI

Source: thehindubusinessline.com

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