Oberoi Constructions plans IPO by March 2010
Mumbai-based developer Oberoi Constructions has announced plans to raise Rs100 crore through an initial public offer (IPO) by March next year. According to the company MD, Vikas Oberoi, the funds raised will be utilised to buy more properties.
The company holds a portfolio of 26 projects mapped over two-million square feet spread across the city and is developing around four-million sq ft of property in the metropolis. The company has also signed property deals worth US$100 million since the April. With the real estate market showing a gradual demand revival other players like Godrej Properties and the Lodha group have also evinced an interest in getting listed on the bourses.