Last Monday, prospectus was filed according to which the Embassy Property Developers, an Indian real estate firm is planning to raise an amount of 513 million dollars through an IPO (Initial Public Offering) of shares.
As per the prospectus, a pre-IPO placement of around 57.5 million shares for up to 11.75 billion rupees is being considered by Embassy Property. However, it is expected that they will provide a discount of 5% to the retail investors.
The IPO time line is not yet set.
According to the data collected by Thomson Reuters, in 2009, there was a raise of $16 billion from 87 offerings, while in mid June of this year; a total raise of about $11 billion from 56 issues took place.