DSKDL plans a public issue as well as a rights issue

Mumbai, Mar 22 (UNI) Pune-based realty major D S Kulkarni Developers Limited (DSKDL) is planning both a public issue as well as a rights issue.

While the rights issue opens on March 30 and closes on April 29 the public issue opens on April 25 and closes on May three.

Company's chairman and managing director D S Kulkarni said that rights issue comprises of 55 lakh equity shares of Rs 10 each for cash at a premium of Rs 100 per equity share in the ratio 1:2 held as on March 21 which is the record date.

The public issue will comprise 55,00,000 equity shares of Rs 10 each for which the price will be decided by the bidding process.

The net offer to the public will comprise of 47,49,845 equity shares while 1,10,000 shares has been reserved for employees of the company.

Mr Kulkarni said that his company was poised for huge growth with over 39 lakh sq ft under construction and projects worth Rs 555 crore under various stages of development and execution.

''We are a very big player in Pune and now we have expanded into Mumbai and Bangalore,'' he said, adding that in the next few years the company will foray into other parts of the country as well.

For the nine-month period ended December 31 last year the company's total income plus stock-in-trade stood at Rs 66.46 crore while net profit rose sharply to Rs 11.89 crore as against Rs 1.27 crore in the previous corresponding period.

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