HDIL Issue taken out by Housing and Development Infrastructure Ltd received over-whelming response. The issue had been fixed at a price of Rs. 500, the upper end of price band. The HDIL IPO-Initial Public Offer was over subscribed 6.6 times. HDIL-Housing and Development Infrastructure Ltd. India opened with 2.97equity shares of Rs. 10 each in a price band of Rs. 430-500 per share. While the total issue of HDIL India comprises of 13.86 percent of the fully diluted post issue paid-up capital but if the green shoe option is exercised it will come up to 15.65 percent. HDIL Mumbai plans to use the whooping amount of Rs. 1485 crore raised with the HDIL Issue of its equity shares in purchasing land as well as properties and getting land development rights of its current and also its future construction projects. The HDIL Issue which was concluded on 3rd July, 2007 received astonishing response and helped the company in making its presence felt in the Real Estate industry in India.
The astounding success of HDIL Initial Public offer-IPO is appreciated by Indiahousing.com.
