Puravankara Projects to enter capital markets

Mumbai, Jan 5 (UNI) Real estate development major Puravankara Projects Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital markets with an initial public offering of 21,467,610 equity shares of Rs 5 each.

The issue is being made through a 100 per cent book-building process in accordance with the SEBI (Disclosure&Investor Protection) Guidelines, 2000, the release said.

The issue will constitute 10.05 per cent of the post-issue capital of the company. Of the issue, 60 per cent is being reserved for allotment to Qualified Institutional Buyers, of which 5 per cent will be reserved for allotment to mutual funds.

Further, up to 10 per cent of the issue will be allotted to non-institutional investors and the balance up to 30 per cent will be allotted to retail investors, the release added.

UNI