According to industry body Assocham Real estate companies mopped up a large amount amount through early public offers on stock exchanges during 2007.V. Dhoot president of
Assocham chamber states that although high interest rates, the real estate sector remained buoyant during 2007 primarily due to the well-built underlying demand, aggressive marketing, entry of fresh players and gain in retail and multiplexes. This is reflected by the highest share occupied by the sector in IPO market during the year.
Assocham states that Property developers mobilized as much as 42.7 % of the total funds through IPOs.
It said nine real estate companies raised money by the means of public issues, which also included IVR Prime Urban Developers (Rs 778 crore), Omaxe (Rs 650 crore), Brigade Enterprises (Rs 671 crore).
Assocham states that out of 101 companies 29 sectors raised money from IPOs amounting to a total of Rs 34,119.7 crore during the year gone by.
