Tuesday, January 26, 2010

DB Realty IPO - Analysis, Recommendation and Review

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Mumbai-based DB Realty is entering capital market with an initial public offering (IPO) of Rs 1,500 crore on January 29, 2010. The issue will close for subscription on February 2, 2010. The price band has been fixed at Rs 468-486 per share.

The issue proceeds will be used for its ongoing projects and pre-paying the loan taken from IDFC. As on August 31, 2009, it has 10 ongoing projects, aggregating approximately 18.61 million square feet of saleable area, 9 forthcoming projects, aggregating approximately 20.17 million square feet of saleable area and 6 upcoming projects, aggregating approximately 22.11 million square feet of saleable area.

The book running lead manager to the issue is Enam Securities Private Limited and Kotak Mahindra Capital Company Limited. Link Intime India Private Limited is the registrar.

We do not recommend this IPO for investors.
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