Prestige Estates sets IPO price band at Rs 172-183

Realtor Prestige Estates Projects has set the price band at Rs 172 to Rs 183 per share for its initial public offering, which opens on October 12.

The company, which expects to mop-up Rs 1,200 crore via its public float, has fixed the price band at Rs 172-183 a share, a source close to the development said today. The IPO closes on October 14.

Anchor Investor issue period will be one day prior to the IPO opening date, Bangalore-based real estate developer said in a statement today.

Enam Securities, JP Morgan India, Kotak Mahindra Capital Company and UBS Securities India are the book running lead managers to the issue.

 

Meanwhile, the public offering of the Mumbai-based Oberoi Realty got oversubscribed 1.34 times by the end of second day of issue today, as per the data available with the National Stock Exchange.

The IPO, through which the realty firm aims to raise up to Rs 1,028 crore, closes tomorrow. The issue is priced in a band of Rs 253 to Rs 260 per share.

On the other hand, BS Transcomm's Rs 204 crore public issue was subscribed 45 per cent by the end of second day of offering, the NSE data showed.

The company, a provider of towers to telecos and power transmission firms, has entered the market with its IPO fixed in a price band of Rs 257 to Rs 266 per share. The IPO closes on October 8.

BS Transcomm is engaged in the manufacture and supply of telecommunication and transmission towers, sub-station structures and also provides service solutions to the telecom infrastructure and power transmission sectors.

The company supplies towers to entities such as Reliance Infratel, Wireless, TT Info Services, Indus Towers and Power Grid, among others.