Realty company BPTP said its promoters would dilute 10-25 per cent stake through an initial public offer (IPO) to raise about Rs 1,500 crore for funding existing and future projects and retiring debt.
“We will raise Rs 1,500 crore by diluting about 10-25 per cent (stake of promoters),” BPTP Managing Kabul Chawla told reporters on the sidelines of a CII event here.
He said the company would not delay the IPO and would go ahead with its plans, while ruling out any pre-IPO placements. “Every company has its own strength and we will not like to wait. We will launch the IPO within two-three months after getting Sebi’s approval,” Chawla said, adding there would be no pre-IPO placement but “(we) may rope in an anchor investor”.
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