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Omaxe to debut on bourses

Tuesday, August 7, 2007

Omaxe will debut on bourses on Thursday, 9 August 2007. It will be placed in the 'A' group of shares on BSE.

The company had fixed the issue price at the top end of Rs 256-310 price band.

At an issue price of Rs 310, the PE multiple works out to 21.08, based on the year ended March 2007 EPS of Rs 14.7.

Omaxe IPO ended on 20 July 2007 with 68.34 times subscription. The issue received total bids for 121.61 crore shares compared with total issue size of 1.77 crore shares.

The total bids in the Qualified Institutional Buyers (QIBs) category were 100 crore shares. The Non Institutional Investors bid for 14.20 crore shares, out of 17.50 lakh shares allotted for this category. The retail individual investors bid for 7.29 crore shares.

The employees bid for 3.36 lakh shares from total 2.96 lakh shares allotted for this category.

Omaxe is a real-estate development and construction company promoted and founded by Rohtas Goel. Commencing operation as a construction and contracting company, it has completed 120 construction projects.

Now, its focus is fully on development of residential and commercial real-estate projects ranging from integrated townships, group housing and retail and other commercial properties, hotels, information technology and bio-tech parks to special economic zones.

The company has a presence in 30 cities and nine states and it plans to deploy the IPO proceeds for payments related to land, repayment of loan and for meeting development and construction costs.

The company has a land bank of over 3,000 acre and at present 47 projects are under development.

Omaxe's consolidated net profit jumped 116.51% to Rs 257.26 crore on 75.76% rise in sales to Rs 1431.29 crore in the year ended March 2007 over the year ended March 2006.

Posted by FR at 4:13 PM  

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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.