Tuesday, January 5, 2010

Godrej Properties IPO - Listing details

Godrej Properties IPO had a decent listing today. The IPO was subscribed 4 times. On the NSE, the IPO listed at Rs. 511, touched an intra day high of Rs 586 and a low of Rs 502, before closing the day at Rs 536 at a 9.4% premium over its issue price of Rs. 490.

On the BSE, the IPO listed at Rs. 510, touched an intra day high of Rs 586 and a low of Rs 500, before closing the day at Rs 534 at a 9.1% premium over its issue price of Rs. 490.

The proceeds of the issue will be used for acquisition of land development rights for forthcoming projects; construction of forthcoming project and repayment of loans. In an IPO press conference, the company said would use 30% of IPO funds to repay debt.

Watch out this blog for more IPOs!

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