DSKDL to enter capital market on April 28

Hyderabad, Apr 19: D S Kulkarni Developers Ltd (DSKDL) is entering the capital market on April 28 with a follow-on public issue of 55 lakh equity shares of Rs ten each for cash at a price to be determined by book building process.

The issue, closing on May three is a part of composite issue of 1.10 crore equity shares comprising promoters contribution and reservation for employees, Company Chairman and Managing Director D S Kulkarni told the media here today The net offer to the public will be 47.49 lakh shares. The company had come out with an IPO in 1993.

The proceeds will be used to finance the company's ongoing and new residential and commercial real estate development projects and for general corporate purposes, he added.

UNI