BPTP gets Sebi nod for Rs15b IPO
Friday, 7 May 2010
NEW DELHI, May 6 (PTI): Realty firm BPTP Ltd has received market regulator Sebi's nod to raise up to Rs 15 billion through its maiden public issue.
"We have received the Securities and Exchange Board of India (Sebi) approval for the IPO early this week," a company official said.
The official, however, added that the company would now consult with merchant bankers to decide on the timing and other issues related to the IPO.
BPTP had filed draft prospectus with Sebi last December.
Company Managing Director Kabul Chawla had earlier said that the IPO could be launched in early 2010-11 fiscal.
Out of the net proceeds, BPTP intends to deploy around Rs 4.60 billion to part-finance the construction and development
"We have received the Securities and Exchange Board of India (Sebi) approval for the IPO early this week," a company official said.
The official, however, added that the company would now consult with merchant bankers to decide on the timing and other issues related to the IPO.
BPTP had filed draft prospectus with Sebi last December.
Company Managing Director Kabul Chawla had earlier said that the IPO could be launched in early 2010-11 fiscal.
Out of the net proceeds, BPTP intends to deploy around Rs 4.60 billion to part-finance the construction and development