Ambience Limited files DRHP with SEBI

Ambience Limited (“Ambience”), has filed its Draft Red Herring Prospectus ( DRHP) with the Securities and Exchange Board of India (“SEBI”) on 25th September,2009 with respect to its initial public offering  of Equity Shares of Rs. 10 each for cash at a price including  share premium aggregating up to Rs. 11,250 million (the “Issue”). There will also be a Green Shoe Option of Equity Shares for cash aggregating up to Rs. 1,687.50 million.

Ambience Limited is a real estate development company with primary focus on development of premium commercial and luxury residential complexes in the National Capital Region. Ambience has developed various projects like Lagoon Residential Apartment Complex, Ambience Mall, Gurgaon and Ambience Mall, Vasant Kunj, New Delhi. The Catriona Residential Project at Ambience Island, NH-8, Gurgaon with 240 condominium is under development by Ambience.

The Issue price is to be decided through a 100% Book-Building Process with at least 60% allocation to Qualified Institutional Buyers (QIB), not less than 10% allocation to Non-Institutional Bidders and not less than 30% allocation  to Retail Individual Bidders  each on a proportionate basis. Out of QIB share 30% can be allocated to Anchor Investors on a discretionary basis and 5% of the QIB net of Anchor Investors Portion shall be available for allocation to Mutual Funds on a proportionate basis.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”).

The Book Running Lead Managers (“BRLMs”) to the Issue are JM Financial Consultants Private Limited, Enam Securities Private Limited, J. P. Morgan India Private Limited, Macquarie Capital Advisers (India) Private Limited and Kotak Mahindra Capital Company Limited.

Note
Ambience Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed its DRHP with SEBI. The DRHP is available on the website of SEBI at www.sebi.gov.in and on the websites of the respective BRLMs at www.jmfinancial.in, www.enam.com, www.jpmipl.com, www.macquarie.com/in. and www.kmcc.co.in. .

Investors should note that an investment in Equity Shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” of the DRHP.

This press release does not constitute an offer of securities for sale in any jurisdiction, including the United States. Equity Shares may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption there from. The Company has not and does not intend to register any Equity Shares under the U.S. Securities Act of 1933, as amended, and does not intend to offer any Equity Shares to the public in the United States.