praveen
13-03-2008, 07:23 AM
Mumbai-based property developer Oberoi Constructions, led by billionaire Vikas Oberoi, is planning a Rs 4,000 crore ($1 billion) initial public offer by year end.
Vikas Oberoi, also known as Vikki Oberoi is at the 707th slot in the Forbes annual list of billionaires with a wealth of $1.7 billion.
Oberoi has hired investment banking major Morgan Stanley to value the company. The developer plans to issue fresh shares under the IPO, however, the exact dilution of the stake is not known.
The company plans to use the IPO proceeds for land acquisition and fund upcoming projects including the Oberoi Garden City and four and five-star hotels across the country.
Vikas Oberoi, also known as Vikki Oberoi is at the 707th slot in the Forbes annual list of billionaires with a wealth of $1.7 billion.
Oberoi has hired investment banking major Morgan Stanley to value the company. The developer plans to issue fresh shares under the IPO, however, the exact dilution of the stake is not known.
The company plans to use the IPO proceeds for land acquisition and fund upcoming projects including the Oberoi Garden City and four and five-star hotels across the country.