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Home » Real Estate » Real Estate » Ansal Properties To Raise $140 Mn Through QIP |
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Ansal Properties To Raise $140 Mn Through QIP
by Irfan Khan | December 22,2009 - 05:29 PM
Topics : Real Estate
Industries : Real Estate
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Ansal Properties and Infrastructure Ltd is planning to raise about $140 Mn through a QIP issue in Feb’10. The funds will be partly used to retire a part of company’s debt which currently stands at $214 Mn. A part of it will also be used to fund its $425 Mn megapolis project
The board of the real estate developer has decided to seek shareholders approval to issue equity shares worth up to $320 Mn to institutions.
Promoted by Sushil Ansal - Ansal Properties has been developing commercial, residential and industrial parks since its inception in 1967. Earlier this year, it raised close to $100 Mn from Red Fort India Real Estate Fund and Investate Fund through a stake sale in its two projects.
IDFC-SSKI is the lead manager for the issue.
SMC Capital has come out with a report on QIPs in 2009. Indian corporates have raised about Rs 32,558 Cr through 44 QIP issuances in 2009. On an overall basis, the 44 QIP issuances have resulted into current Mark-to-Market (MTM) return of about +15.84%, aggregating to the current value of Rs 37,714 crore.
Out of the 44 QIP issuances, six where from the real estate sector and five of them are trading above the issue price. Only Parsvnath Developers is trading slightly below the issue price.
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| There is no data for the current transaction |
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| Latest DealCurry Notes |
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Shilpi Cable Files DRHP To Raise Rs 56 Cr Via IPO
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September 03, 2010, 03:58 PM | Deeshesh Chheda
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Radio frequency (RF) cables manufacturer, Shilpi Cable Technologies Limited (SCTL) has filed DRHP with SEBI to raise Rs.55.87 Cr.
It will use the IPO proceeds to set-up a wire and cable assembly shop, expand its product portfolio and manufacture cables for 3G networks. It will also manufacture low voltage power cables and cable accessories.
D and A Financial Services is the sole book running lead manager for the issue.
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