The Hindu Business Line : Brigade Enterprises IPO on Dec 13

Mumbai, Dec. 4 Brigade Enterprises Ltd, a Bangalore-based real estate company, plans to enter the capital markets with an IPO of 1.66-crore equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process. The issue will be open for subscription on December 10 and closes on December 13. The price band is Rs 351-Rs 390 per equity share.

The net issue to the public will be 1.65 crore equity shares and a reservation of up to one lakh equity shares for eligible employees. Green-shoe option of up to 24.94 lakh equity shares is also available. The shares of this issue will be listed on both the BSE and NSE. Qualified institutional buyers will be allotted 60 per cent of the issue, while 30 per cent will be allotted to retail investors on a proportional basis and non-institutional investors will be allotted 10 per cent of the issue.

The proceeds from the issue will be used to fund the future growth plans of the company, meeting developmental and construction costs in relation to the company’s on-going and forthcoming real estate projects and other corporate purposes.

The global co-ordinators and book-running lead managers to the issue are JP Morgan India Pvt Ltd, Enam Securities Pvt Ltd and ICICI Securities.

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