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Puranik Builders re-files IPO papers, plans to raise Rs 1k-cr to pare debt

Edelweiss Financial Services Ltd and Axis Capital will manage the company's initial share-sale. Shares of the company will be listed on the BSE and NSE.

Press Trust of India  |  New Delhi 

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As per the survey, nearly 73% of the participants who took part in the survey

Realty firm has filed fresh papers with regulator to raise an estimated Rs 1,000 crore through its initial share-sale.

The IPO comprises fresh issue of shares worth Rs 810 crore, besides, an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders, according to the draft papers filed with Securities and Exchange Board of India (Sebi).

Proceeds of the issue will be utilised towards repayment of loan and other general corporate purposes.

In addition, the company plans to receive the benefits of listing of its equity shares on the stock exchanges.

According to market sources, size of the initial public offer (IPO) is around Rs 1,000 crore.

Ltd and will manage the company's initial share-sale. Shares of the company will be listed on the and

Earlier in June 2018, Puranik Builders, a Mumbai-based residential real estate developer, had approached with its IPO papers and had received the regulator's clearance to launch the public issue but did not go ahead with the plans then.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, November 21 2019. 15:25 IST
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