The initial public offer of real estate developer Omaxe, expected to raise about Rs 550 crore, got subscribed by more than 35 times today.
The IPO received bids for 63.09 crore shares against 1.77 crore shares on offer, getting subscribed 35.45 times, according to the latest data available on the bourses.
The price band of the offer, which opened on July 17 and closes with the working hours today, has been fixed at Rs 265-310 per share.The issue received good response from Qualified Institutional Buyers and non-institutional investors.
Of the total issue, about 1.75 crore equity shares are meant for the public, while the balance 2.96 lakh shares have been reserved for eligible employees. There is also a greenshoe option of 17.5 lakh equity shares.
The issue would constitute 11.20 per cent of fully diluted post-issue paid-up capital of the company if the greenshoe option is exercised and, 10.30 per cent if the option is not exercised.
Showing posts with label Omaxe. Show all posts
Showing posts with label Omaxe. Show all posts
Friday, July 20, 2007
Friday, July 13, 2007
Omaxe seeks Rs 600 crore in IPO
Real-estate developer Omaxe Ltd plans to raise as much as Rs 600 crore ($148 million) selling shares for the first time to finance land acquisition and repay loans.
The company will sell 17.8 million new shares of Rs 10 face value at Rs 265 to Rs 310 apiece, starting July 17. The price will be decided based on demand from investors after the sale ends on July 20, the New Delhi-based company said in a statement on Thursday.
Omaxe founder Guild Builder Pvt may offer an additional 1.75 million shares on demand, taking the total offer to 19.5 million shares, the company said. The company has reserved 296,520 shares for employees.
Omaxe hired DSP Merrill Lynch Ltd, Citigroup Global Markets India Pvt, UBS Securities India Pvt, JM Financial Consultants Pvt and ICICI Securities Ltd to arrange the sale.
If all 19.5 million shares are sold, they will account for 11.2 per cent of the company's fully diluted, post-issue capital, Omaxe said.
Read more in The Economic Times article.
The company will sell 17.8 million new shares of Rs 10 face value at Rs 265 to Rs 310 apiece, starting July 17. The price will be decided based on demand from investors after the sale ends on July 20, the New Delhi-based company said in a statement on Thursday.
Omaxe founder Guild Builder Pvt may offer an additional 1.75 million shares on demand, taking the total offer to 19.5 million shares, the company said. The company has reserved 296,520 shares for employees.
Omaxe hired DSP Merrill Lynch Ltd, Citigroup Global Markets India Pvt, UBS Securities India Pvt, JM Financial Consultants Pvt and ICICI Securities Ltd to arrange the sale.
If all 19.5 million shares are sold, they will account for 11.2 per cent of the company's fully diluted, post-issue capital, Omaxe said.
Read more in The Economic Times article.
Tuesday, July 10, 2007
Omaxe IPO to raise Rs550 cr
Real estate developer Omaxe Ltd is expecting to raise about Rs550 crore through its initial public offer (IPO), for which the price band has been fixed at Rs265-310 per share.
Omaxe’s IPO will come close on the heels of successful IPOs of real estate giant DLF and HDIL. The company had received market regulator Sebi’s approval for its IPO on 22 May. It had filed the draft red herring prospectus (DRHP) with Sebi in December last. Omaxe proposes to enter the capital market with a public issue of about 1.78 crore equity shares of Rs10 each through 100% book-building process.
About 1.75 crore equity shares are for the public, while balance 296,000 shares are reserved for eligible employees. Additionally, there would be a green shoe option of 17.5 lakh equity shares.The issue would constitute 11.20% of the fully diluted post-issue paid-up capital of the company if the green shoe option is exercised and 10.30% otherwise.
The company will raise about Rs550 crore at the upper band, much lower from its earlier target of Rs 1,400 crore.
Omaxe’s IPO will come close on the heels of successful IPOs of real estate giant DLF and HDIL. The company had received market regulator Sebi’s approval for its IPO on 22 May. It had filed the draft red herring prospectus (DRHP) with Sebi in December last. Omaxe proposes to enter the capital market with a public issue of about 1.78 crore equity shares of Rs10 each through 100% book-building process.
About 1.75 crore equity shares are for the public, while balance 296,000 shares are reserved for eligible employees. Additionally, there would be a green shoe option of 17.5 lakh equity shares.The issue would constitute 11.20% of the fully diluted post-issue paid-up capital of the company if the green shoe option is exercised and 10.30% otherwise.
The company will raise about Rs550 crore at the upper band, much lower from its earlier target of Rs 1,400 crore.
Monday, June 18, 2007
After DLF, it is now Omaxe’s turn to sell the Indian real estate story
Omaxe Ltd, the Delhi-based property developer that plans to kick off the road show for its initial public offering in a week, may have to price its shares lower than rival DLF Ltd’s share price for it to attract investors, say analysts.
While Omaxe has not yet decided on the price band for the issue, a senior company official familiar with the offer, speaking on the condition he wouldn’t be named, said the price band would be below Rs500 a share, the lower end of the DLF band.
Omaxe is currently consulting with its merchant bankers to arrive at a price band. Mint could not independently verify the Rs500-a-share number.Omaxe’s offer of 17.8 million shares pales in comparison with DLF’s 175 million shares, which is the largest share sale to hit the Indian market. The DLF offer got Rs9,187 crore from the market at a price of Rs525 per share. At Rs500, Omaxe could generate Rs890 crore.
Read more in The Livemint article.
While Omaxe has not yet decided on the price band for the issue, a senior company official familiar with the offer, speaking on the condition he wouldn’t be named, said the price band would be below Rs500 a share, the lower end of the DLF band.
Omaxe is currently consulting with its merchant bankers to arrive at a price band. Mint could not independently verify the Rs500-a-share number.Omaxe’s offer of 17.8 million shares pales in comparison with DLF’s 175 million shares, which is the largest share sale to hit the Indian market. The DLF offer got Rs9,187 crore from the market at a price of Rs525 per share. At Rs500, Omaxe could generate Rs890 crore.
Read more in The Livemint article.
Wednesday, June 13, 2007
Omaxe to raise upto $400 mn in July IPO
Indian developer Omaxe Ltd. plans to raise $300 million to $400 million (Rs1,633 crore )through a domestic IPO in July, according to a term sheet distributed on 13 June, testing investor demand for Indian property companies.
Omaxe’s sale of nearly 18 million shares will come on the heels of rival developer DLF Ltd., which is raising $2.4 billion, India’s largest IPO ever. It was fully subscribed a day after it opened to institutional investors on 11 June.
Omaxe filed for an IPO in December with a fund-raising target of $339 million, but media reports earlier this year suggested the deal would be closer to $200 million because of weak Indian stock markets and concern over domestic land valuations.
Omaxe had sales of about $400 million in 2006, and the company is selling 10.3% of its equity, with a greenshoe over allotment option of 1.75 million shares, the term sheet said.Citigroup , Merrill Lynch and UBS are joint bookrunners for the deal, the term sheet said.
Read more in The Livemint article.
Omaxe’s sale of nearly 18 million shares will come on the heels of rival developer DLF Ltd., which is raising $2.4 billion, India’s largest IPO ever. It was fully subscribed a day after it opened to institutional investors on 11 June.
Omaxe filed for an IPO in December with a fund-raising target of $339 million, but media reports earlier this year suggested the deal would be closer to $200 million because of weak Indian stock markets and concern over domestic land valuations.
Omaxe had sales of about $400 million in 2006, and the company is selling 10.3% of its equity, with a greenshoe over allotment option of 1.75 million shares, the term sheet said.Citigroup , Merrill Lynch and UBS are joint bookrunners for the deal, the term sheet said.
Read more in The Livemint article.
Monday, May 14, 2007
Jam-packed season on D-Street
Welcome to the Great Indian equity sale. If Chinese initial public offers (IPOs) arrived with a big bang in FY07, Indian IPOs are set to raise the pitch in FY08. A number of companies are slotted to hit the market with large public issues.
While this may ensure that investment bankers get record bonuses this year too, it makes life more difficult for the average investor. The huge overflow of equity can drag down returns in the near term. The current year is expected to see some large issues, with DLF inarguably being the largest one.
Other biggies include ICICI Bank, State Bank of India (SBI), ICICI Holdings (insurance business), Omaxe, Power Grid Corporation and Oil India. The total amount likely to be raised is Rs 60,000-75,000 crore, based on available information. This is thrice the amount raised in FY07.
Read more in The Economic Times article.
While this may ensure that investment bankers get record bonuses this year too, it makes life more difficult for the average investor. The huge overflow of equity can drag down returns in the near term. The current year is expected to see some large issues, with DLF inarguably being the largest one.
Other biggies include ICICI Bank, State Bank of India (SBI), ICICI Holdings (insurance business), Omaxe, Power Grid Corporation and Oil India. The total amount likely to be raised is Rs 60,000-75,000 crore, based on available information. This is thrice the amount raised in FY07.
Read more in The Economic Times article.
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