Prestige Estates Projects fixes IPP price band at Rs.161 to Rs.170

The IPP Committee of the Board of Directors of Prestige Estates Projects Ltd has by a resolution dated January 21, 2013 fixed the price band at Rs. 161 to Rs. 170 per Equity Share for the proposed issue of upto 19,932,937 equity shares with over allotment option of upto 1,993,293 equity shares being offered by way of Institutional Placement Programme (IPP). The Issue opens and closes on January 23, 2013.

The Company have appointed CLSA India Limited and J. P. Morgan India Private Limited as the Book Running Lead Managers to the issue.

The Prestige Estates Projects Ltd stock was trading at Rs.172.70, down by Rs.2.45 or 1.40%. The stock hit an intraday high of Rs.179 and low of Rs.170.95.

The total traded quantity was 0.23 lakhs compared to 2 week average of 0.69 lakhs.

Source : Equity Bulls

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