Sunday, January 3, 2010

Godrej Properties to be listed on BSE

Mumbai: Equity shares of Godrej properties will be listed on Bombay Stock Exchange on January 5, 2010. The company had fixed the issue price for its initial public offering (IPO) at Rs.490 a share, at lower end of price band of Rs.490-530 per share.

As per data available on NSE, the IPO of 9,429,750 equity shares of Rs.10 each was opened during December 9-11, 2009 and was subscribed four times. The company has got the major support from qualified institutional investors; their reserved portion got subscribed 7.45 times. Retail and non-institutional investors' portion remained undersubscribed.

The company managed to collect over Rs.460 crore from this issue. It also received commitment from anchor investors and collected nearly Rs.90 crore from them at Rs.530 per share.

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