Oberoi Realty IPO to hit market on Oct 6

Real estate developer Oberoi Realty on Friday said it will hit the capital market with its initial public offer on October 6.

The issue will close on October 8, the Mumbai-based real estate developer said in a public announcement.

The company is offering 39,562,000 equity shares of the face value of Rs 10 each.

The price band of the issue will be announced later. The firm may consider participation of anchor investors.

They can bid a day prior to the opening of the issue. Kotak Mahindra, Enam Securities, Morgan Stanley India and JP Morgan India are book-running lead managers to the issue.

With a sharp rise in the stock markets, many companies are now hitting the Dalal Street to cash in on the increased investor appetite for these issue.

Good response to the recent IPOs has also encouraged firms to launch their planned issues.