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Kolte-Patil to tap capital market
Corporate Reporter
CHENNAI: Kolte-Patil Developers is entering the capital market with an initial public offer of 19 million equity shares of Rs. 10 each at a price to be decided through a 100 per cent book-building process. The issue will open on November 19 and close on November 12. The price band has been fixed between Rs. 125 and Rs. 145.
Addressing presspersons in connection with the public offer, Hardeep Dayal, Group CEO, said the object of the issue is to finance acquisition of development rights, finance the construction and development costs for some of the proposed projects and fund expenditure for general corporate purposes.
Kolte-Patil Developers develops and constructs properties in Pune and also in BangaloreThe company will undertake the development of serviced apartment complexes and IT parks.
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