IVR Prime Urban Developers will list on the bourses on Thursday, 16 August 2007.

The company has fixed the issue price at Rs 550, compared with the IPO price band of Rs 510-600.

At an IPO price of Rs 550, the PE multiple works out to 166.66, based on the year ended March 2007 EPS of Rs 3.3.

The IVR Prime Urban Developers IPO ended on 26 July 2007 with 5.75 times subscription. The issue summed total bids for 8.13 crore shares as against total issue size of 1.41 crore shares.

The total bids in the qualified institutional buyers (QIBs) category were 7.22 crore shares compared with 84 lakh shares assigned for this category.

The non institutional investors bid for 25.92 lakh shares as against 14 lakh shares allotted for this category.

The retail individual investors bid for 64.69 lakh shares as against 42 lakh shares allotted for this category.

The employees bid for 1.07 lakh shares compared with 1.50 lakh shares allotted for this category.

IVR Prime is a subsidiary of IVRCL Infrastructures and Projects. The company focusses on integrated townships, residential developments including homes, commercial projects, retail malls, IT parks and other projects in various parts of India including cities of Hyderabad, Visakhapatnam, Chennai, Bangalore, Pune and Noida.

The parent firm, IVRCL holds 80% in IVR Prime and its holding will come down to 62.35% after the IPO.

IVRCL, which is into a whole range of infrastructure projects from power to roads, reported 52.17% in net profit to Rs 141.46 crore in the year ended March 2007 over March 2006. Sales jumped 51.56% to Rs 2305.88 crore in the year ended March 2007 over March 2006.

IVR Prime Urban Developers, is investing Rs 300 crore in setting up a mall and an IT Park at Gachibowli, Hyderabad. The project will be funded through a mix of internal accruals and debt and is estimated to complete in 36 months.

The company has appointed Bentel & Bentel, a South African architect firm, for designing the project, and Old Mutual of South Africa has been appointed for advising on property and lease management. The mall is proposed to have a multiplex, food courts and an entertainment plaza.

IVR Prime's net profit rose 76.75% to Rs 20.68 crore on 8.36% increase in sales to Rs 147.76 crore in the year ended March 2007.