Godrej Properties IPO closes for subscription on Friday

The Initial Public Offering (IPO) of Godrej Properties Limited which opened for subscription on December 9, 2009 will close for subscription on Friday - December 11, 2009.

At the end of Day 2 the issue has received subscription of 1.28 times with bids for 9895405 equity shares against the offer of 7732405 equity shares. The issue has received bids for 214526 equity shares at cut-off price.

The company has come out with an IPO of 9429750 equity shares [including Anchor investor portion of 16,97,345 equity shares] of Rs 10 each for cash at a price band of Rs. 490 To Rs. 530 through 100% book building process.

Kotak Mahindra Capital Company and ICICI Securities Limited are the Global Coordinators for the IPO.

IDFC - SSKI Limited, Nomura Financial Advisory And Securities (India) Private Limited are the Book Running Lead Managers to the issue. Kotak Securities Limited and Sharekhan Limited are the syndicate members to the issue.

KARVY COMPUTERSHARE PRIVATE LIMITED is the registrar to the company.

The issue has been given IPO GRADE 4 by rating agency ICRA.

Source : Equity Bulls

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