Issue Period July 31, 2007 to Aug 08, 2007
Issue Size 21,467,610 Equity Shares
Issue Type 100% Book Building
Face Value Rs. 5/-
Price Range Rs. 400/- to Rs. 450/-
Minimum Lot 10 shares
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Grade Average - Hold for Long term
Weak market situation has forced Puravankara Projects to reprice their issue to Rs 400-450 from earlier price band of Rs 500-525 per share. The issue was supposed to close today, August 3, 2007 but now it will close on August 8.
Future Plan
Puravankara Projects’ operations cover Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Colombo and the UAE. The company has completed 14 residential and one commercial project totalling 3.93 million sq ft of developable area. Ongoing projects aggregate 12.20 million sq ft of saleable area.
Comment
They have a 100% reputation of not delivering projects on time. More ever their customer service and quality is also not good. They have jumped in IPO wagon seeing the response for other real estate companies . It is advised to all the investors to HOLD on this scrip only for the Long term perspective.
Premium on listing - 20%
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