Oberoi Realty has set Rs 253-260 per share price band for its proposed initial public offer (IPO). The issue, which will open on 6 October 2010 and close on 8 October 2010, will constitute 12% of the fully diluted post-issue paid-up share capital of the company.
The Mumbai-based property developer focuses on premium residential projects. The company is planning to use the issue proceeds for construction of ongoing projects and planned projects, acquisition of land, land development rights and general corporate purposes.
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