Puravankara Projects IPO
Puravankara Projects IPO — date, price band, lot size & details 2007
Puravankara Projects listed on 30 Aug 2007 at ₹310, 22.5% below the ₹400 issue price.
Puravankara Projects is a real estate developer of apartments, villas and commercial space, with most of its projects in south Indian cities such as Bangalore, Kochi and Chennai. Its total income was Rs 416.86 crore in FY2007.
Stock price
Puravankara Projects is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 31 Jul 2007
- Close 08 Aug 2007
- Allotment 22 Aug 2007
- Refund/credit TBA
- Listing 30 Aug 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 31 Jul to 8 Aug, 2007 |
|---|---|
| Price Band | ₹400 – ₹450 |
| Face Value | ₹10 |
| Lot Size | 10 Shares |
| Issue Size | ₹856.28 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 4,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 10 shares at the ₹400 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 10 | ₹4,000 |
| Retail (max) | 50 | 500 | ₹2,00,000 |
| S-HNI (min) | 51 | 510 | ₹2,04,000 |
| S-HNI (max) | 250 | 2,500 | ₹10,00,000 |
| B-HNI (min) | 251 | 2,510 | ₹10,04,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 151.03 crore in FY2005 to Rs 416.86 crore in FY2007.
- 02Restated profit after tax rose from Rs 38.02 crore in FY2005 to Rs 130.40 crore in FY2007.
- 03Net worth rose from Rs 51.60 crore in FY2005 to Rs 221.76 crore in FY2007.
- 04It had a long track record since 1986 and CRISIL DA2+ project ratings in 2002, 2004 and 2006.
Risks · 5
- 01Rs 351.30 crore of the issue was for buying land, so it carried land and approval risk.
- 02Rs 393.52 crore of the issue went to repay loans rather than build new projects.
- 03Most of its projects were in south India, in cities such as Bangalore and Kochi, and Rs 61.18 crore of the issue was for general corporate purposes.
- 04The issue was priced at Rs 400, the bottom of its Rs 400 to Rs 450 band.
- 05The promoter held 99.98% before the issue and about 89.93% after it, so the public float was small.
Three years of numbers
All figures in ₹ crore, as reported in the Puravankara Projects offer document.
| Metric | 31 Mar 2007 | 31 Mar 2006 | 31 Mar 2005 |
|---|---|---|---|
| Total Income | 416.86 | 280.42 | 151.03 |
| Profit After Tax | 130.40 | 73.50 | 38.02 |
| NET Worth | 221.76 | 111.42 | 51.60 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Puravankara Projects RHP.
Where the money goes
₹806.00 Cr of the issue is earmarked to named objects.
About the company
It develops residential projects such as apartment complexes, villas and townhouses, and commercial retail and office space, mostly in south India, with operations in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad and Mysore.
As of 6 August 2007 its land bank for ongoing projects was about 5.10 million sq. ft. of land area. It was awarded CRISIL DA2+ ratings in 2002, 2004 and 2006 for the quality and timely delivery of its projects.
The IPO was Rs 856.28 crore and was entirely a fresh issue at Rs 400, the bottom of the Rs 400 to Rs 450 band. The money was for buying land and repaying loans.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Puravankara Projects IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: K.P.R. Mill (-22.2%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ICICI Securities (-16.3%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ICICI Securities (-16.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Puravankara Projects?
The current Grey Market Premium is ₹0.
What is the Puravankara Projects IPO price band?
₹400 to ₹450, on a face value of ₹10.
When is the allotment?
The basis of allotment is 22 August 2007, with listing on 30 August 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
