Nitesh Estates Ltd IPO

Nitesh Estates Ltd;the Bangalore-based developer, has committed to  building a world-class hotel in the heart of the city Nitesh Estates Ltd (NEL), a Bangalore-based real estate development company, announced its initial public offering (IPO) will open on April 23.IPO (initial public offering) of Rs. 450.00 Crore. CRISIL has allocated Grade 2/5 to the proposed initial public offer (IPO) of NEL. Nitesh Estates allotted 50 per cent of the shares to the qualified institutional buyers, retail investors 35 per cent and high net worth individuals 15 per cent.

NEL is primarily engaged in the development of residential projects in Bangalore And the development of shopping malls and is expanding geographic reach to Goa ,Chennai and Hyderabad. March 31, 2009, the company has reported profit after tax of Rs 2.85 crore (total income of Rs 86.89 crore). April-September 2009, it has posted profit after tax of Rs 6.08 crore (total income of Rs 45.85 crore).

The IPO opening on April 23, 2010, and closes for subscription on April 27, 2010. The shares of the company are will be listed on the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).

The Face Value for the share is Rs.10 and tick size is Rs.1.
The Market Lot is 100 and Minimum Order Qty is100.

Address ; Nitesh Timesquare, 7th Floor, No. 8, M.G. Road, Bengaluru-560001

Conduct details

Email investor@niteshestates.com, Website; http://www.niteshestates.com,
Phone number; 91-80-40174000, Fax detail; 91-80-25550825.

Book Running Lead Managers; JM Financial Consultants Pvt. Ltd, Enam Securities Pvt. Ltd., ICICI Securities Ltd., Kotak Mahindra Capital Company Ltd.

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