An uninspiring opening and an even worse close towards the end of the day marked Indiabulls Properties Investment Trust’s debut on the Singapore Exchange on 11th june.
During the day, it went down to as low as 0.88 cents and closed 10% below the issue price of S$1. The stock could not breach its issue price of S$1, reports Supriya Verma in Mumbai.
The trust sold shares at S$1 each, the bottom of the proposed range, after delaying the sale by a day, According to a June 6 statement, the division had aimed for as much as S$388.3 million from selling shares at S$1-1 .10 a piece.
Indiabulls Properties had to go ahead with FY10E distribution yields of 9-10 %.
Indiabulls Properties Investment Trust is the first international offering in this year by any Indian developer. Spiraling property prices, higher interest rate for the past 6 yrs and impending volatility in global markets had led to other prominent developers like DLF and Unitech to postpone their offerings.
By manish
|
Posted in Property News
|
Also tagged DLF, Global Markets., Indiabulls, Interest Rate, Investment Trust, Mumbai, REIT, Selling Shares, Singapore, Stock, Unitech
|
Godrej Properties Ltd, Real estate arm of the Godrej Group, declared that it has filed the Draft Red Herring Prospectus (DHRP) with SEBI for an IPO of approx seven million shares.
According to a company statement, the firm proposes an IPO of 9,429,750 equity shares of ten rupees each through 100% book building process to part finance this plan. ICICI Securities Ltd and Kotak Mahindra Capital Company Limited are the BRLMs for the Issue. Read More »
By Rajani
|
Posted in Property News
|
Also tagged , Commercial Projects, Equity Share Capital, Godrej Group, Godrej Properties, IPO, Kotak Mahindra, Mgf, projects, Promoter, Sebi.
|
A week after Sebi announced guidelines for real estate mutual funds, officials at fund houses and real estate developers are awaiting clarity on certain issues before they go ahead with scheme launches. Industry experts point out that taxation, periodic calculation of net asset value (NAV), and absence of any benchmark indices are some of the contentious issues turning out to be stumbling blocks in the design of such products.
Mr. Pranay Vakil, chairman, KnightFrank India, asks that a quarterly valuation exercise would not be very easy to implement. “Let us assume that an REMF consists of 10 real estate assets and each asset has been acquired at different periods of a year. So, how one can calculate a composite NAV of fund, taking into consideration all these properties purchased?”. Read More »
New Delhi-based real estate developer, Parsvnath Developers, plans to develop a mixed-use project, Parsvnath Planet Plaza, in Lucknow. The entire project is expected to incur an approximate cost of Rs 120 crore. Read More »
Is it the exact price for the property? Perhaps this is the question that keeps on creeping in people’s mind ever since they make up their mind to buy or sell a property. So it is important to spot the right price for making a successful real estate deal. There are certain things which every one should keep in mind to arrive at the decent levels of property-valuation and deal are:
1. Excellent roads in the border of and within the society add value to the property.
2. Value depends on the profile of the locality where the property is located.
3. Connectivity with transport equally important for buyer’s point of view. In fact, property in surrounding area to these facilities makes sound investment proposition.
4. People avoids locality that are nearer to riot prone area or communally polarized.
5. Not to mention, green atmosphere, civic facilities like safe drinking water, continuous power supply and proper drainage system are the first choice of the buyer.
Blackstone Real Estate Partners announced that it agreed to invest approximately 18 million dollars for a minority stake with board representation in Synergy Property Development Services Private Ltd.
Synergy, Formed in 2003, is now one of the top projects and construction management companies in India and currently has over 500 employees across nine Indian offices, with international offices in Dubai and Kualalumpur. Read More »
By Rajani
|
Posted in Property News
|
Also tagged Blackstone, construction, dollar, Dubai, Hospital, Hotel, India, Investment, kualalumpur, Real Estate, Residential, retail, synergy
|
April 24, 2008 – 10:32 am
The stock of unoccupied properties with real estate developers in the main technology hubs of Bangalore and Chennai is mounting and indications are that their problems will only get worse as software companies head towards greener pastures.
Read More »
The sub prime crisis may have struck in the US, but real estate companies around the world are feeling the heat. The meltdown in property firms’ valuations in other economies, including India, China, Japan and the UK, has surpassed that of the US with Indian real estate companies witnessing one of the biggest falls. Some leading Indian real estate firms are trading at about 34% discount to their net asset values, which implies that property firms are being valued at just two-thirds of the assets they hold.
Read More »
By Rajani
|
Posted in Property News
|
Also tagged , China, Citigroup, Global, India, Japan, Market, Project Execution, Rupesh, Sensex, Stock
|
April 11, 2008 – 12:18 pm
Real estate and textile firm Modern India Ltd said it is in talks with private equity players to dilute the founders’ stake and sell stake in its special economic zone unit.
Mr. V K Jatia, Chairman and Managing Director, Modern India Ltd, said, “We are in talks with 2-3 players, and we will finalize in the next one to one and a half months”.
There could be two different transactions, one for Modern India Ltd and another for the SEZ, he said, adding both transactions may happen simultaneously. Read More »
February 26, 2008 – 6:44 am
Market experts are visualising a high growth in Indian real estate value. It is expected to rise from US $12 billion to $90 billion by the year 2015.
Read More »
