Puranik Builders Will Be Listed On BSE And NSE:
Puranik Builders is a real estate developer in Mumbai. It plans to introduce a new IPO in real estate firms. It also submitted the draft documents to the Security and Exchange Board of India (SEBI).
The company supposed to raise Rs 1,000 crores from this IPO. The IPO issued 18,59,620 equity shares for sale with the Rs 810 crores of fresh issue.
As Per the SEBI, the company promoters and shareholders hold their shares. As on 30th Sep 2019, the entire loans having by the Puranik builders is Rs 1,291 crores. The objective of the IPO is to utilize the issued amount for refunding credits and general corporate purposes. And also the company plans to gains profits by listing its shares in the stock market.
According to the draft paper, the size of the IPO is nearly Rs 1000 crores. Edelweiss Financial Services Ltd & Axis Capital are the promoter of this IPO. The issue will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The company Previously submitted the draft papers to the SEBI in July 2018. And also it approved the IPO. But the company doesn’t begin the public issue.