Parsvnath IPO to value the real estate company at $1.2 Billion | INRnews
Mumbai, October 27, 2006 : Real estate developer Parsvnath Developers could be valued at $1.2 Billion based on its proposed IPO price band of Rs. 250-300 rupees per share. The company plans to raise $220 million from the capital markets by selling 18.3% of its post-issue capital. The Parsvanath IPO is open from Nov 6-10.
The IPO would make Parsvanath the second largest listed real estate firm after Unitech, valued at $7 billion. The company earned revenue of Rs.82 crore for the latest year ending March 06, with a net profit of Rs.13 crore. Parsvanath is developing 102 million sq ft of saleable real estate across the country.
By INRnews Correspondent
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