Home > Business > Ambience plans IPO; to repay debt

Ambience plans IPO; to repay debt

Friday, October 22, 2010
By a Business Reporter

Realty firm Ambience on Thursday said that it plans to launch its proposed initial public offer (IPO) by February next year to raise up to Rs 1,293 crore.

"SEBI approval is valid till February 2011. Our endeavour will be to launch the public issue before February, if market conditions are conducive," Ambience Group Chairman Raj Singh Gehlot told PTI in New Delhi.

The company had filed the draft red herring prospectus (DRHP) in September last year and received approval from the market regulator SEBI in February this year. Ambience plans to dilute between 10 and 15 per cent to raise nearly Rs 1,300 crore through the maiden public offer.

It would utilise about Rs 475 crore to make part repayment of Rs 2,500 crore debt, while another Rs 470 crore would be deployed for construction of existing and future projects.


Facebook   Delicious   Delicious   submit to reddit reddit
No Comments Posted
City news
In what maybe seen as a more inclusive ...
With independent candidate, Nandkishore Patil, wi
The first meeting between social activist Anna Ha
History Need Not Repeat Itself
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Do not be apprehensive about some expected changes. Try not to arrive at any conclusions right now. You may be pleasantly surprised by the turn of events and your own response to them in time to come. If you are on edge relax with your favorite pastime.
Tarot for Love
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)What the cards say: You will have an advantage over your loved one Path: Use this opportunity constructively to make him understand your perspectives and needs. Don’t misuse or exploit this to an unfair advantage. Ally: Take help from Virgo who will be objective. Avoid advice from Leo. Card for the week: Is the Tarot key no X The Wheel of Fortune. It is spinning in your favour.
- Advertising -
Intraday Support and Resistance Levels Based on t
I am a salaried person. I have been offered a job
Can you tell me the key factors or points that de
Read More