Neelkanth Realtors will deliver IPO, papers filed with SEBI – INA NEWS

Neelkanth Realtors IPO: Mumbai primarily based actual property developer Neelkanth Realtors goes to launch its IPO. The corporate has filed draft papers for this with market regulator SEBI. As per the Draft Pink Herring Prospectus (DRHP), solely recent fairness shares will likely be issued underneath the IPO. On the identical time, there will likely be no sale via Supply for Sale (OFS). Which means the whole proceeds from the IPO will go to the corporate.

About Neelkanth Realtors IPO

Beneath the IPO of Neelkanth Realtors, 1.35 crore new fairness shares will likely be issued, the face worth of which is Rs 10 per share. Swastika Investmart Restricted is the only ebook operating lead supervisor for this IPO and Hyperlink Intime India is the registrar. It’s proposed to record the shares on BSE and NSE.

Within the public problem, 50 per cent of the provide will likely be reserved for certified institutional traders, 15 per cent for non-institutional traders and 35 per cent for retail traders.

The place will Neelkanth Realtors use the funds?

The funds raised from the recent problem will likely be utilized by Neelkanth Realtors for the event of its current tasks and upcoming tasks together with Neelkanth Plaza mission in Thane. In accordance with the paperwork, the proceeds from the IPO may even be used to repay debt and basic firm functioning.

Neelkanth Realtors Enterprise, Opponents and Financials

Neelkanth Realtors is without doubt one of the main actual property builders within the japanese suburbs of Mumbai and Thane metropolis within the Mumbai Metropolitan Area (MMR), in keeping with a report by Anarock. The Bhimjiani household has been lively in the true property growth enterprise with its former companions for the reason that Eighties and was doing enterprise underneath the title ‘Neelkanth’.

Neelkanth Realtors competes with main builders equivalent to Godrej Properties, Macrotech Builders (Lodha Group), Hiranandani Constructions, Runwal Group, Kalpataru, and famend manufacturers like L&T Realty Restricted. The corporate reported whole income of Rs 15.08 crore and revenue of Rs 2.38 crore for the three-month interval ending June 2024.

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