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  • Prestige Estates 12-bln-rupee IPO subscribed 2.26 times

    (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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on October 15, 2010
  • Jaiprakash Associates, IDFC to be included in CNX Nifty index

    Infrastructure firm Jaiprakash Associates and core sector financier Infrastructure Development Finance Co (IDFC) are on their way to join the Nifty-50 club, the National Stock Exchange said on Friday. The two companies will be replacing of aluminium major Nalco and telecom service provider Tata Communications, which are on their way out, it ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 7, 2009
  • Nagarjuna Construction to raise Rs 367 crore via share issue

    Nagarjuna Construction said it will raise Rs 367.35 crore by way of private placement of shares with qualified institutional buyers. The board of directors have approved to allot 2,77,32,900 shares at Rs 132.46 a piece, totalling to Rs 367.35 crore by private placement with buyers, Nagarjuna Construction said in a filing to the Bombay Stock ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 7, 2009
  • Realty stocks continue to shine

    Real estate stocks on Friday continued their upward march with few showing signs of weakness in what is seen as a range-bound market for now. The Realty Index too saw a minor upside at 4297.49 up 2.09 per cent over Thursday’s close. However, the country’s largest realty company, DLF, was up only 0.36 per cent at Rs 414.35 while ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 7, 2009
  • ICRA downgrades ratings of Brigade Enterprises

    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 ...
    Posted to My Bangalore Blog (Weblog) by 248075 on August 9, 2009
  • Sobha Developers to raise Rs 1,400 cr by selling land parcels

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on August 2, 2009
  • Dubai Developer Planning To Sell off Stake

    The developer of palm-shaped islands off Dubai's coast has announced that the company is considering selling shares to the public. The state owned company talked about the same in a report in London's Sunday Telegraph newspaper that it is talks to float up to $15 billion worth of shares in 2009. 6 Jan 2009 Hindustan Times
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 5, 2009
  • HDFC enters Home Equity Business

    HDFC, India's largest housing finance company has made a big move in the home equity business by offering loans against property at 13.25%. This could turn out to be a big business opportunity for the lender since most of its borrowers pre-pay home loans. The finance through the home equity route makes available finance at a cheaper rate than, ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 18, 2008
  • Indiabulls Real Estate's $ 400 mn GDR Concludes

    Indiabulls Real Estate has recently concluded its $ 400 million Global Depository Receipts (GDR) offering with the allotment of over 3.87 crore equity shares. The board of directors allotted 3,48,83,720 equity shares of Rs 2 each as underlying shares representing equal number of GDRs. Pursuant to the over allotment option exercised by the sole ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 18, 2008
  • Puravankara Projects Q1 profits increased by 41%

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on August 3, 2008
  • Puravankara Projects FY08 profits increases 86%

    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 ...
    Posted to My Bangalore Blog (Weblog) by 248075 on May 1, 2008
  • Phoenix Mills arm acquires land in Rajaji Nagar, Bangalore

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on March 26, 2008
  • Disappointing debut for Brigade Enterprises

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on December 31, 2007
  • Prestige Group floats JV with mall operator

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on December 13, 2007
  • Now Brigade Group enters Stock Market

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on December 13, 2007
  • No Intention to control capital Inflow: Finance Minister

    Developments in the recent weeks have required India to moderate the flow of funds into the country but the government has no intention of controlling capital flows, Finance Minister P Chidambaram has said. "Let me assure you we have no intention of imposing controls on capital inflows. Nor do we intend to keep out certain kinds of ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • DLF Goes Abroad To Raise Funds

    The biggie of the real estate sector wants to grow bigger, as DLF Ltd plans to borrow $1.5 billion overseas to fund new projects and acquisitions in the next 30 days. It will spend half of the money on buying shares in DLF Offices Trust, a Singapore based entity. The Senior Vice President Mr Saurabh Chawla remarked that ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on October 19, 2007
  • Golden Gate Properties close to stake sale

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on October 7, 2007
  • Bangalore Builders-Puravankara Projects IPO rates poorly

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on August 9, 2007
  • Puravankara Projects revises IPO price

    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, ...
    Posted to My Bangalore Blog (Weblog) by 233134 on August 5, 2007
  • DLF market cap touches Rs 1-trillion mark

    MUMBAI: Realty stocks on the bourses rallied on Wednesday even as the market value of DLF Ltd, India's biggest real estate firm, crossed Rs one-trillion mark on hope RBI may not raise interest rates at a credit review later this month. The scrip of billionaire K P Singh-led DLF, which listed on the bourses only on July 5, rose 3.27 ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on July 13, 2007
  • Indiabulls Real Estate prices $360 million GDR offering

    Mumbai, India, July 04, 2007 - Indiabulls Real Estate Ltd (IBREL) has aanounced that IBREL priced its US$ 360 million GDRs offering on the Luxembourg Stock Exchange at US$ 10.32 per GDR. Each GDR represents one equity share of the Company of nominal value Rs 2 each. The book closed on July 03, 2007 and the issue was priced after market ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on July 13, 2007
  • DLF debuts on BSE at premium to issue price

    Mumbai, India, July 05, 2007 - Indian Real estate major DLF Ltd saw its stock close at a 8.6% premium to the IPO price of Rs.525 on the first day of trading on the BSE. The stock saw a low of Rs.505.60 and a high of Rs.714.25 on opening day. DLF is already amongst the top 10 companies traded on Indian exchanges based on its ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on July 13, 2007
  • Indiabulls Real Estate Limited (IBREL) Lists on Mumbai Stock Exchange

    Indiabulls Real Estate Limited (IBREL), the real estate wing of Indiabulls Group, got listed on the Bombay Stock Exchange. IBREL, which recently demerged from Indiabulls Financial Services Limited (IBFSL), reached a high of Rs 414.80 per share in early trade and over 12.97 lakh shares were traded on the BSE. The face value of the stock was Rs 2 ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on April 10, 2007
  • Private equity to power realty firms

    Real estate developers are increasingly looking at private equity firms as banks are turning off the taps due to the Reserve Bank of India’s stringent guidelines on funding commercial and retail developments.  In the first two months of 2007 alone, nearly Rs 1,500 crore worth of private equity deals have been forged by developers all ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on March 18, 2007
  • Sobha Developers acquires prime property in Central Bangalore(Bengalooru)

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on March 18, 2007
  • Puravankara in talks with Accor, Marriott for hospitality ventures

    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 ...
    Posted to My Bangalore Blog (Weblog) by 233134 on March 18, 2007