The initial public offering (IPO) of Samruddhi Realty Ltd., a flagship company of Samruddhi Group, will open for subscription on March 28.
The company plans to raise Rs.2.60 crore by issuing 21.7 lakh equity shares of Rs.10 each at a price of Rs.12 apiece.
The issue will close on April 03, 2013.
The company said it would utilize the IPO proceeds for partial repayment of long-term loans.
Equity shares are proposed to be listed Bombay Stock Exchange under SME platform, it said.
The company has relentlessly made its mark in high quality residential property development in Bangalore.
Hem Securities is the lead manager to the issue.
For comments and feedback: editorial@rttnews.com