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IVR Prime to list on the bourses today, weak listing expected

Thursday, August 16, 2007

IVR Prime Urban Developers, a subsidiary of IVRCL Infrastructure and Projects, will list on August 16, 2007 with 6,41,50,000 shares on the bourses. The shares will also start trading in futures and options market with a lot size of 400 shares. The offer price has been fixed at Rs 550 per share. The company had come out with an initial public offering of 1,41,50,000 equity shares of Rs 10 each in a price band between Rs 510 and Rs 600 per share. The issue was subscribed 5.75 times.

Analysts were of the view that the investors should book profits in IVR Prime on listing day and buy below Rs 500. Investors, those who got allotment, will get an opportunity to exit the stock.

IVR Prime focuses on integrated townships, residential developments including affordable homes, and commercial projects such as hotels, retail malls and IT Parks.
IVR Prime may list at around Rs 575-600.

Posted by FR at 9:05 AM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.