DB Realty sets Rs 468-486 per share price band for IPO

The public issue to open for subscription on 29 January 2010

Mumbai-based realty firm DB Realty is entering capital market with an initial public offering (IPO) of Rs 1,500 crore on 29 January, 2010.

The price band has been fixed at Rs 468-486 per share. The issue will close for subscription on 2 February 2010.

The issue proceeds will be used for its ongoing projects and pre-paying the loan taken from IDFC.

As on 31 August 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.