Indian developer DB Realty’s USD 325 million initial public offering (IPO) was oversubscribed on Monday, the second day of the sale, indicating a revival in investor demand for real estate stocks.
The property firm is developing 19.5 million sq ft of projects, mostly in Mumbai, the country’s financial capital. It has offered up to 13.4% of equity to partly fund projects and to repay debt.
The IPO heads a list of at least 16 Indian real estate firms that have lined up plans for share sales, buoyed by a sharp stock market rally last year and as property buyers return.
More : moneycontrol.com
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