Mumbai: Entertainment World Developers (EWD) shall raise upto $96 million in an intial public offering (IPO) as the company filed a draft prospectus with the market regulators.
The amount generated through this IPO will be used for construction in ongoing projects and to buy back convertible debt issued by a unit to funds maintained by ICICI Venture and Phoenix Mills, which owns 40.3 percent of Entertainment World Developers.
The company has filed that it is already done with three projects and has another 11 projects to be completed. ICICI Securities, Kotak Mahindra Capital and Edelweiss Capital are arranging for the issue.
