Thursday, June 21, 2007

HDIL readies Rs2,000 cr IPO; analysts see Rs460-500 range - livemint

Mumbai: Close on the heels of the mega public issue of Delhi-based realtor DLF Ltd, Housing Development and Infrastructure Ltd (HDIL), a group company of the Mumbai-based mortgage firm Dewan Housing Finance Ltd, plans to enter the capital market with a public issue of around Rs2,000 crore early July. Another Delhi-based realtor, Omaxe Developers Ltd, is also expected to hit the market around the same time
Analysts who have been crunching HDIL’s numbers in the run-up to the public issue said that the valuation and expected pricing will be comparable to DLF. Shailesh Kanani, analyst at Angel Broking said, “The expected price band of Rs460-500 for a Rs10 share will leave a lot on the table for retail investors, compared with DLF’s Rs525 for a Rs2 share.”..........HDIL readies Rs2,000 cr IPO; analysts see Rs460-500 range - livemint


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