NSE has included Puravankara Projects in futures & options (F&O) segment from the day when the stock lists on Thursday, 30 August 2007. The lot size of Puravankara Projects in F&O segment is set at 500.

The company had priced its IPO at Rs 400, at the lower end of the Rs 400-Rs 450 price band. It may be recalled that the company had slashed the IPO price band to Rs 400-Rs 450 per share, compared to the previously set price band of Rs 500 - Rs 525 a share, due to volatile conditions in the secondary market prevailing at that time.

At Rs 400, the IPO was priced 65.5 times its FY 2007 EPS of Rs 6.10 (based on consolidated financial performance). The post issue equity capital of the company is Rs 106.74 crore. Face value per share is Rs 5.

The IPO had ended on 8 August 2007 with 1.91 times subscription. The qualified institutional buyers (QIBs) category was subscribed 2.7 times, the non institutional investors category - made up of corporates and high networth investors - was subscribed 0.98 times. The retail individual investors category was subscribed 0.63 times.

Bangalore-based real estate developer, Puravankara Projects will use the proceeds of the IPO for retiring high interest loans and for acquiring land.

Puravankara Projects focuses on developing residential and commercial properties, primarily in south India (specially Bangalore). The company has completed 14 residential projects and one commercial project covering approximately 3.77 million square feet (sq ft) of saleable area.

The company, currently has its presence in Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore, Colombo and UAE. Over 80% of Puravankara Projects’ portfolio comprises of residential project and the other 20% is commercial projects.

On a consolidated basis, Puravankara Projects reported a net profit of Rs 130.40 crore on revenue of Rs 416.86 crore in the year ended 31 March 2007.