Oberoi Constructions plans to raise $300-500 mn via IPO

City-based Oberoi Construction is planning to raise about $300-500 million through an initial public offering (IPO) that would be launched in the next calender year.

Company sources said that the fresh issue of shares will be made in the final quarter of this financial year.

Vikas Oberoi, managing director, Oberoi Construction, said, "We have not decided anything yet as they are still on the drawing board."

The proceeds from the IPO will be used into buying more properties, informed company executives.
 
The company manages a portfolio 26 projects spanning across residential, commercial and retail properties in Mumbai.