Parsvnath Developers files Red Herring Prospectus with SEBI

Mumbai, Mar 18 (UNI) Parsvnath Developers Limited filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a public issue of upto 332,38,000 equity shares.

Announcing this, a company release today said of the total equity float, upto 33,03,8000 equity shares were for the public, while the balance upto 2,00,000 shares have been reserved for eligible employees of the company.

The issue would constitute 25.15 per cent of the fully diluted post issue paid up capital of the company, while the net offer to the public would constitute 25 per cent of the fully diluted post issue paid up capital of Parsvnath Developers Limited.

While the face value of the equity shares is Rs 10 each, the pricing of the issue is to be determined through cent per cent book building process.

A minimum of 50 per cent of the net offer to the public shall be allocated to Qualified Institutional Buyers (QIBs), and upto 35 per cent shall be available for allocation on a proportionate basis to the retail bidders.

The equity shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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