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DB Realty IPO opens on January 29

Mumbai-based real estate company DB Realty Limited will enter the capital markets on January 29, 2010 with its IPO of equity shares of Rs 10 each ( the “IPO”) at a price band of Rs 468-Rs 486. The IPO will close on February 02, 2010.
DB Realty Limited targets to raise up to Rs 1,500 crore through the issue. The IPO also marks the equity dilution of approximately 10%, the minimum required to list the company.
Jointly promoted by Shahid Balwa and Vinod Goenka whose families have been in the real estate and related businesses for more than 95 years and 25 years respectively. Enam Securities Private Limited and Kotak Mahindra Capital Company Private Limited are the book running lead managers to the issue. DB Realty focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment, in and around Mumbai.

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