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Oberoi Realty's 39.56 Million shares IPO opens on Oct 6
By siliconindia
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Friday, 01 October 2010, 18:55 IST
Mumbai: Oberoi Realty, a Mumbai-based real estate development company, plans for an initial public offering (IPO) of 39.56 million shares. The issue will be available for subscription from October 6 to October 8.
The company will use the issue proceeds for construction of ongoing projects and planned projects; acquisition of land or land development rights; and general corporate purposes. It had filed a draft prospectus with SEBI in January, 2010.
The company has good operating margins. Post issue promoters holding would be 78.1 percent. Morgan Stanley through its subsidiary will hold 9.5 percent. The public issue constitutes 12 percent of post issue capital.
The Vikas Oberoi promoted group, is in to real estate development since 1983, focusing primarily, on premium developments. The company has completed 2.9 million square feet of projects.
For the year ended March 2010, Oberoi Realty reported a net profit of 
4,552 million on operating income of 7,838 million, as compared to PAT of 2,523 million and operating income of 4,255 million in FY 2008-09. For the quarter ending June 2010, the company reported PAT of 798 million on operating income of 1,599 million.
The book running lead managers to the issue are Kotak Mahindra Capital, Enam Securities, JP Morgan India and Morgan Stanley India. Link Intime India is the registrar.
4,552 million on operating income of 7,838 million, as compared to PAT of 2,523 million and operating income of 4,255 million in FY 2008-09. For the quarter ending June 2010, the company reported PAT of 798 million on operating income of 1,599 million.
The book running lead managers to the issue are Kotak Mahindra Capital, Enam Securities, JP Morgan India and Morgan Stanley India. Link Intime India is the registrar.
