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Incorporated in 1991, Kolte-Patil Developers Limited is a relatively small Pune based real estate development company. As of last year company has developed 25 projects, 22 in Pune and 3 in Bangalore which includes 2 IT Parks. Company has 28 ongoing projects in Pune and Bangalore; 23 are residential and 5 are commercial, IT Parks.
Company is ISO 9001 certified and received the Government of Maharashtra’s First Prize for “Best IT Infrastructure in the State of Maharashtra” for our GigaSpace IT Park project in Viman Nagar, Pune.
For 3 of its big projects in Pune company has joint venture with ICICI Venture. ICICI Venture has provided financing for these projects. Company has identified and acquired lands, invested equity, designed and conceptualized the projects and served as project manager and developer for these projects.
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital for
1. Finance land acquisition;
2. Finance the construction and development costs for some of the proposed projects;
3. Fund expenditures for general corporate purposes.
| IPO Opening Date | Nov 19, 2007 |
| IPO Closing Date | Nov 22, 2007 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹125 to ₹145 per equity share |
| Market Lot | 40 Shares |
| Min Order Quantity | 40 Shares |
| Listing At | BSE, NSE |
| Issue Size | 19,000,836 Eq Shares of ₹10 (aggregating up to ₹275.51 Cr) |
The Kolte Patil Developers IPO market lot size is 40 shares. A retail-individual investor can apply for up to 34 lots (1360 shares or ₹197,200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 40 | ₹5,800 |
| Maximum | 34 | 1360 | ₹197,200 |
Withdrawal Option to Investors:
Update 1 (Posted on November 25, 2007)
Kolte-Patil Developers Limited has received a notice from SEBI about allegations made by Mr. C.V.L. Sastry with respect to the project Whispering Meadows II and the related disclosures in the Red Herring Prospectus. Investors can expect a significant delay in Kolte-Patil IPO Allotment and listing as we saw in the case of Dhanus Technologies Limited IPO.
Update 2 (Posted on November 27, 2007)
After few allegations made by Mr. C.V.L. Sastry on November 16, 2007, Today November 27, Kolte-Patil Developers Limited has received a notice from SEBI to allow investors to withdraw their application by December 4. Individual letters are posted to all subscribers of this public issue. Investors should receive these letters in next few days. More information about withdrawal process will be provided in that letter.
Last date for receipt of withdrawal: December 4, 2007
The Kolte Patil Developers IPO is subscribed 46.18 times on Nov 22, 2007 17:00. The public issue subscribed 16.58 in the retail category, 60.97 in the QIB category, and 68.81 in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
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| Listing Date | Thursday, December 13, 2007 |
| BSE Script Code | 532924 |
| NSE Symbol | KOLTEPATIL |
| Listing In | B1 Group of Securities |
| ISIN | INE094I01018 |
| IPO Price | ₹145 per equity share |
| Face Value | ₹10 per equity share |
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Kolte-Patil Developers Limited
2nd Floor, City Point,
Dhole Patil Road,
Pune 411 001 Maharashtra, India
Phone: +91 20 2605 3700
Email: investorrelation@koltepatil.com
Website: http://www.koltepatil.com
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: bigshare@bom7.vsnl.net.in
Website: http://www.bigshareonline.com
Kolte Patil Developers IPO is a main-board IPO of 19,000,836 equity shares of the face value of ₹10 aggregating up to ₹275.51 Crores. The issue is priced at ₹125 to ₹145 per equity share. The minimum order quantity is 40 Shares.
The IPO opens on Nov 19, 2007, and closes on Nov 22, 2007.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Kolte Patil Developers IPO opens on Nov 19, 2007 and closes on Nov 22, 2007.
Kolte Patil Developers IPO lot size is 40 Shares and the minimum order quantity is 40 Shares.
You can apply in Kolte Patil Developers IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Kolte Patil Developers IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Kolte Patil Developers IPO allotment status.
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