Akruti Nirman IPO - robust response - oversubscribed 81 times

Real estate boom is on a roll. So many construction companies are tapping the capital market to raise funds for constructing as well as buying land. One of them is Akruti Nirman, a real estate development company engaged in the primary business of development of commercial and residential properties, which entered capital market with a public issue of 67,00,000 equity shares of Rs 10 each through 100% book building process.

The issue has been received robust response from investors especially qualified institutional investors and HNIs.

The public issue was oversubscribed 81.05 times, as per NSE website.

More than 54 crore bids were received by the issue as against its size of 67 lakh while over 2.7 crore bids at cut off price.

price band was fixed at Rs 475 to Rs 540. The issue will constitute 10.04% of the post-issue capital of the company. J P Morgan India and Enam Financial Consultants are the BRLMs for the issue and Intime Spectrum Registry is the registrar.

Subscription Details

Invest in Akruti Nirman IPO

Akruti Nirman, a real estate development company engaged in the primary business of development of commercial and residential properties, is open for subscription with a public issue of 67,00,000 equity shares of Rs 10 each through 100% book building process.

The issue closes on January 19, 2007 and the price band has been fixed at Rs 475 to Rs 540. The issue will constitute 10.04% of the post-issue capital of the company. J P Morgan India and Enam Financial Consultants are the BRLMs for the issue and Intime Spectrum Registry is the registrar.
Peer Group Analysis: For Financial Year 2006