Brigade Ent
By
Research Desk
about 17 years ago
Brigade Enterprises, a Bangalore-based real estate company, filed its DRHP with SEBI on 17th September 2007. The company proposes to issue 1.66 crore equity shares of Rs 10 each for cash, at a price to be decided later through the 100 per cent book building process. There is also a green shoe option of up to 24.93 lakh equity shares.
JP Morgan India, ICICI Securities and Enam Securities are the book running lead managers to the issue. The shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.
The issue will constitute 16.87 per cent of the fully diluted post issue paid-up capital assuming that the green shoe option is exercised in full and 15 per cent assuming the option is not exercised.
The company intends to use the proceeds for future growth plans including land acquisition, meeting construction and development costs of ongoing and forthcoming real estate projects.