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Open
23 Apr 2010
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Close
27 Apr 2010
3
Allotment
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Listing
Thu, May 13, 2010
Price Band
₹54 to ₹56
Issue Size
7,50,00,000 shares (agg. up to ₹405 Cr)
Lot Size
100 Shares
Listing Date
Thu, May 13, 2010
✦ AI Insight
Live Subscription
| Category | Subscription (times) |
|---|---|
| Total | 1.14x |
Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Acquire joint development rights by the Company | 24.00 |
| 2 | Fund the existing Subsidiaries and the Associate company, for repayment/prepayment of loans, redemption of debentures, finance Ongoing Projects and finance the acquisition of joint development rights | 937.64 |
| 3 | Repay certain loans of the Company | 41.54 |
| 4 | Fund the expenditure for general corporate purposes | 17.59 |
About Nitesh Estates IPO
Incorporated in 2004, Nitesh Estates Limited is in the business of real estate development, primarily residential projects in Bengaluru. They are also developing a hospitality project in Bengaluru and a residential and an office project in Kochi. Nitesh Estates is in the process of diversifying into the development of shopping-malls and are expanding geographic reach to Chennai and Goa. Company's residential projects include multi-unit apartment buildings targeted at high-income and middle-income customers. Nitesh Estates is also developing its first hospitality project, the first ‘Ritz-Carlton’ brand hotel in India, on Residency Road in the central business district of Bengaluru.Nitesh Estates has developed three residential projects totalling 0.55 million sq. ft. of Saleable Area and Developable Area. Company is developing 5 residential, 1 hospitality and 1 office projects. Company also has 3 residential, 1 shopping-mall and 1 mixed-use real estate projects inline for future development.Completed Projects of the Nitesh Estates are:1. Nitesh Long Island, completed in 2009, a built-to-suit premium corporate residential project near Bellary Road, Bengaluru;2. Nitesh Wimbledon Park,
Contact Details
Nitesh Estates Ltd. AddressNitesh Timesquare, 7th FloorNo.8, M.G.RoadBengaluru, Karnataka, 560001(91 80) 4017 4000investor@niteshestates.comVisit Website