Economic Times: Oberoi Realty fixes IPO price band at Rs 253-260 per share

http://economictimes.indiatimes.com/markets/ipos/Oberoi-Realty-fixes-IPO-price-band-at-Rs-253-260-per-share/articleshow/6677248.cms

NEW DELHI: Real estate firm has fixed a price band of Rs 253 to Rs 260 a share for its initial share sale offer, through which the company expects to garner up to Rs 1,000 crore. 

"The price band for the public issue has been fixed at Rs 253 to Rs 260 per equity share," an investment banking source, working on the issue, told PTI today. 

The IPO will hit the capital market on October 6 and will close on October 8. 

The Mumbai-based real estate developer is coming out with an offer size of 39,562,000 shares of face value of Rs 10 each. At the upper end of the price band, the realtor will be able to raise up to Rs 1,028.61 crore, while at the lower end the IPO is valued worth Rs 1,000 crore. 

The firm may consider participation of anchor investors. They can bid a day prior to the opening of the issue, sources said. 

Kotak Mahindra, , Morgan Stanley India and are book-running lead managers to the issue. 

With a sharp rise in the stock markets, many companies are now hitting the Dalal Street to cash in on the increased investor appetite for these issue. 

Good response to the recent IPOs has also encouraged firms to launch their planned issues.