Oberoi Realty on Debut premium of 7.7%


Oberoi Realty which entered the capital market recently with its Initial Public Offering of shares at the price of Rs 260 p/s and oversubscribed by 12 times listed in Bombay Stock Exchange (BSE) at a premium of 7.7%. The price went up to 282.90 or 8.8 per cent to close at the closing hours. During the intra day, the shares went up to a high of 15%. The Company which offered through its IPO 39.5 million shares priced at Rs 260 raised Rs 10.3 billion.

Oberoi Realty which entered the capital market recently with its Initial Public Offering of shares at the price of Rs 260 p/s and oversubscribed by 12 times listed in Bombay Stock Exchange (BSE) at a premium of 7.7%. The price went up to 282.90 or 8.8 per cent to close at the closing hours. During the intra day, the shares went up to a high of 15%. The Company which offered through its IPO 39.5 million shares priced at Rs 260 raised Rs 10.3 billion. The BSE Realty Index had not participated in the recent rally which had declined 1.8 percent compared to 14% rise in the Sensex.

"Even at the current prices we continue to see great demand for residences in Mumbai," according to Oberoi, who added that "I don't see any softening in prices. Every time people meet me, they say they want to buy a house."

The scrip closed at Rs 280.15, up 7.75 per cent over the issue price in n the National Stock Exchange. In the National Stock Exchange. over 6.55 crore shares of the Mumbai-based company were traded.


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