Mumbai-based real estate company DB Realty Limited, has received bids for Rs. 270 crore towards the Anchor Investor Portion of its IPO which opened today. The anchor investors to whom equity shares have been allocated pursuant to the Offer include Janus, India Capital Fund, Pru ICICI Life, Reliance Capital and India Equity Growth Fund. Janus being a US-based fund has invested in a realty company for the first time. DB realty entered the capital markets on with its IPO of equity shares of Rs 10 each (the “IPO”) at a price band of Rs 468-Rs 486. The IPO will close on February 02, 2010. D B Realty Limited targets to raise up to Rs 1,500 crores through the issue. The IPO also marks the equity dilution of at least 10%, the minimum required to list the company. Jointly promoted by Mr. Shahid Balwa and Mr. Vinod Goenka whose families have been in the real estate and related businesses for more than 95 years and 25 years respectively. Enam Securities Private Limited and Kotak Mahindra Capital Company Private Limited are the book running lead managers to the issue. DB Realty focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment, in and around Mumbai.
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Mumbai Based Real Estate Company DB Realty Ropes in Anchor Investors for Rs270crore
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