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Excon, Excon 2011 Biggest Construction Equipment Trade fair India.

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Real Estate

Real estate firms gear up with Rs9000 cr IPO in coming three months

11/18/2009 02:30:00 PM

Mumbai, Nov (EPC News): At least 16 real estate firms are set to come with their initial public offerings to raise Rs9,000 crore in the next three months. “Going by the DRHPs submitted by the 16 real estate companies, they are planning to raise at least Rs9,000 crore.

This is going to be raised in the next three months,” Knight Frank India Chairman Pranay Vakil said on the sidelines of a Ficci-organised summit here. Vakil said that among the 16 issues, five-six are from the Southern India and a few from Northern India. According to the sources, that Sahara plans to raise Rs3,450 crore through the IPO, Lodha Developers Rs3,000 crore, Godrej Properties Rs600 crore, DB Realty Rs1,500 crore and Kumar Builders Rs450 crore among others. Emmar MGF has also filed the DRHP with the SEBI and plans to raise Rs3,850 crore.