Sobha Developers Limited announces utilisation of IPO proceeds

Sobha Developers Limited has informed the details of utilisation of IPO proceeds as follows : - 1) Towards Land Acquisition - Utilisation as projected in the Prospectus (Rs. in million)- 2343, Actual as on 31.12.2006 (Rs. in million)- 830; 2) Development and Construction of Projects - Utilisation as projected in the Prospectus (Rs. in million)- 1425, Actual as on 31.12.2006 (Rs. in million)- 102; 3) Repayment of loans of the Company - Utilisation as projected in the Prospectus (Rs. in million)- 1322, Actual as on 31.12.2006 (Rs. in million)- 570; 4) General Corporate Purposes - Utilisation as projected in the Prospectus (Rs. in million)- 254, Actual as on 31.12.2006 (Rs. in million) - 0; Total - Utilisation as projected in the Prospectus (Rs. in million)- 5344, Acutal as on 31.12.2006 (Rs. in million)- 1502.

Source : Equity Bulls

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