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(Reuters) - Real estate firm Prestige Estates Projects Ltd's 12-billion-rupee initial public offering (IPO) was subscribed 2.26 times, according to data on the NSE website late on Thursday, the final day of the issue. The qualified institutional portion of the issue was subscribed 4.32 times, non-institutional investor ...

Credit rating agency, ICRA has downgraded the rating assigned to the Rs 7.07 billion fund based and non-fund based limits of Brigade (Q,N,C,F)* Enterprises (BEL) to LBBB- from LBBB+ earlier. LBBB indicates the moderate-credit-quality rating assigned by ICRA in the long term. The rating revision reflects the continuing slowdown in the real estate ...

Sobha Developers Ltd is working hard to raise about Rs 1,200-1,400 crore by selling part of its land parcels in a bid to reduce its outstanding debt. The developer has a time line of around two years to raise funds and is looking at outright sale or by selling stake to private equity investors. The cost of acquisition of the land that ...

This is a Good News for all those who has invested in Puravankara's IPO, Puravankara Projects registered a consolidated net profit of Rs 61.89 crore for the quarter ended June 30, up by 41 per cent compared to the corresponding quarter last fiscal. The firm registered an income at Rs 157.58 crore for the quarter, an increase of 31 percent over ...

Puravankara Projects has announced its fourth quarter and FY08 results. The company's FY08 consolidated net sales were up at Rs 565.81 crore from Rs 416.85 crore. Its FY08 consolidated net profit was up at Rs 240.05 crore versus Rs 129.10 crore. Its Q4 consolidated net sales were up at Rs 546.9 crore from Rs 140.95 crore. Its Q4 ...

Phoenix Mills Ltd has announced that the Company has invested in Palladium Constructions Pvt Ltd and Platinum Hospitality Services Pvt Ltd, 2 project specific SPVs, which have in turn acquired, a parcel of land admeasuring 67,735 sq. mtrs at Rajaji Nagar, Bangalore. Phoenix will own 70% stake in both the Companies. The cost of the land including ...

Shares of Brigade Enterprise posted a flat listing at Rs395 versus an issue price of Rs390. The company offered 16,624,720 equity shares of Rs10 each. The price band was fixed at Rs351 to Rs390 per equity share.Brigade Enterprise is one of the leading real estate development companies based in Bangalore, primarily focused on the development of ...

Bangalore-based Prestige Group has partnered a global mall operator to float a 50:50 joint venture company.   Irfan Razack, Chairman and Managing Director, Prestige Group declining to name the company, said, “We recently signed an agreement to float a joint venture company and the partner will be announced shortly after their board ...

I have been away from blogging and a lot has happened in Bangalore Real Estate Industry over past 2 months, now starting from the hottest news yes about Brigades IPO, hope it will have a better start then Puravankara, but conditions spell a disaster looking at the market conditions. this is  a group of news collected ...

Bangalore based real estate developer, Golden Gate Properties, is believed to be close to a sale of a 20%-30% stake in the company. Leading financial institutions like ABN Amro, Credit Suisse and Deutsche Bank are reported to be in the race for picking up this stake for an estimated $100 million, according to an article in the Economic Times. The ...

MUMBAI: The initial public offering of Puravankara Projects was subscribed 1.91 times according to data available on the exchanges’ websites at 8 pm on Wednesday. The IPO received bids for over 4.09 crore shares against the issue size of 2.14 crore shares. However, the issue evoked a tepid response from non-institutional and retail ...

Unstable markets have prompted Puravankara Projects, a Bangalore-based real estate company, to revise its initial public offer (IPO) price from Rs 500-525 per share to Rs 400-450 per share and extend the closing date by five days to August 8.  The company will now be raising Rs 850 crore at the lower end and Rs 956 crore at the higher end, ...

Sobha Developers, a Bangalore-based real estate firm, has bought two acres of prime land in Bangalore for an undisclosed sum from the RBANM Trust, reports Business Standard. The property is located opposite Koshy`s restaurant and has access to three main roads – St Mark`s Road (west), Church Street (north) and Museum Road (east). On to the ...

Puravankara Projects, a Bangalore-based real estate company, is in talks with global hotel majors including Accor and Marriott to set up hotels and serviced apartments in Bangalore, Chennai and Kochi. Details regarding the size of the deal are not known. When contacted, Ravi Puravankara, chairman, Puravankara Projects, declined to give a direct ...