Housing Development and Infrastructure Limited to float public issue

Housing Development and Infrastructure Limited ("HDIL" or the "Company" or the "Issuer") is planning to come out with a public issue of 30,000,000 equity shares of Rs.10 Each for cash at a price to be announced later through 100% Book Building process. The issue comprises a reservation of up to 600,000 equity shares for subscription by eligible employees (as defined herein) (the "employee reservation portion") and an issue to the public of 29,400,000 equity shares ("the net issue").

There will also be a green shoe option of up to 4,500,000 equity shares (the "green shoe option"). The issue and the green shoe option, if exercised in full, will aggregate to 34,500,000 equity shares. The net issue will constitute 14.00 % of the fully diluted post issue paid-up capital of the company assuming that the green shoe option is not exercised and 15.80% assuming that the green shoe option is exercised in full.#

# The Company is considering a Pre-IPO Placement of Equity Shares with certain investors ("Pre-IPO Placement"). The Pre-IPO placement is at the discretion of the Company. The Company will complete the issuance of such Equity Shares prior to the filing the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the Issue size offered to the public would be reduced to the extent of such Pre-IPO Placement, subject to a minimum Net Issue size of 10% of the post Issue paid-up capital being offered to the public.

Kotak Mahindra Capital Company Limited and Enam Financial Consultants Private Limited will be the Global co-ordinators and Book Running Lead Managers to the issue.

The Equity Shares offered through this issue are proposed to be listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Limited (NSE).

The company's website is Housing Development and Infrastructure Limited

Source : Equity Bulls

Keywords