Godrej Properties fixes IPO price band between Rs 490 to Rs 530

Godrej Industries Ltd has announced that with reference to the Proposed Initial Public Offer of 9,429,750 Equity Shares of Rs. 10 each (the "Equity Shares") by Godrej Properties Ltd. ("GPL"), a subsidiary of Godrej Industries Ltd. ("GIL" or the "Company") ("Issue"), The Company (GPL) has filed a Red Herring Prospectus with the Registrar of Companies, Mumbai on November 30, 2009 ("RHP").

Further the Company has informed that, at the meeting of the Initial Public Offer Committee ("IPO Committee") of GPL held on December 04, 2009, the price band of the Issue has been decided and approved by the IPO Committee to be between Rs. 490 and Rs. 530 per Equity Share of Rs. 10 each.

The Godrej Industries stock was trading at Rs.215, up by Rs.0.15 or 0.07%. The stock hit an intraday high of Rs.218.55 and low of Rs.213.20.

The total traded quantity was 263621 compared to 2 week average of 447651.

Source : Equity Bulls

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