Sobha mops up $130 m
The Economic Times, June 30, 2009, Page 6
Our Bureau BANGALORE
BANGALORE-based realty major Sobha Developers has attracted investor commitments for its $100-$130 million qualified institutional placement (QIP) issue. It is understood that the company has managed to raise the capital on day one itself from a dozen Indian and global institutional investors. The issue opened for subscription on Monday.
The QIP was priced at 209.40 per share. On BSE, the Sobha scrip was up 4.99% to close at Rs 214.70 on Monday.
Following the QIP issue of 30 million shares, promoter holding in Sobha may come down between 66% and 61%. Promoters currently hold 87% in Sobha.
Tuesday, June 30, 2009
Sobha mops up $130 m
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