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Corporate
DS Kulkarni announces follow-on public issue

CHENNAI: Pune-based D S Kulkarni Developers Ltd (DSKDL) on Friday announced follow-on public issue (FPO) of 55 lakh equity shares for raising funds for its new residential and commercial real estate projects.

The company would offer 55 lakh shares of Rs 10 each for cash at a price to be determined by a book building process, being part of composite issue of 1.10 lakh equity shares.

The nine housing projects, comprising 39 lakh square feet, entailing an investment of Rs 555.23 crore would be ready by 2009, DSKDL Joint Managing Director Sanjay Deshpande said.

These projects are coming up in Pune (seven) and Mumbai and Bangalore (one each), he said.

The issue is opening on April 25 and closing on May 3.

Asked whether the company planned to enter the Chennai market, Mr Deshpande said 'our options are always open'. - PTI

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