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Wednesday, August 08, 2007

Omaxe to list on August 9

Omaxe, real estate development and construction company with operations in 30 cities and 9 states in India, will list on the bourses with 17,27,50,000 shares on August 9, 2007. The issue price fixed at Rs 310 per equity share (upper end of the price band) following the successful completion of the 100% book building process for its initial public offer (IPO) of upto 17,796,520 equity shares of Rs 10 each for cash.

The stock will start trading in Futures and Options market with lot size of 650 shares.

The issue was oversubscribed around 68 times, the QIB portion was oversubscribed around 95 times; the Non-Institutional Investors portion was oversubscribed around 80 times; and the Retail Individual Investors Portion was oversubscribed around 13 times.

Omaxe is involved in residential and commercial real estate development projects ranging from integrated townships, group housing and retail and other commercial properties, hotels, information technology and bio-tech parks to special economic zones.

Omaxe had appointed DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited and UBS Securities India Private Limited as the global co-ordinators and joint book running lead managers. JM Financial Consultants Private Limited is the book running lead manager and ICICI Securities Primary Dealership Limited is the co-book running lead manager.

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