Uppal Public Offer Rs 3000

Uppal Housing Ltd has planned to raise Rs 3000 crore fund through IPO i.e. Initial Public Offering of shares and pre-initial public offering placement this year for its ongoing projects. This plan will come to reality in second half of this year. Mr. Ajay Mangal, Director, Finance, Uppal Group said, “We are looking to dilute around 15-17% stake. But the dilution will not be more than 20%”.

Uppal Group is New Delhi based Housing Company. It is owned by Manish Uppal and Bhushan K. Uppal. The company has appointed Goldman Sachs (India) Securities Pvt. Ltd as one of its merchant bankers. Company might hire more merchant bankers.

Uppal Group plans to launch a public issue. The public issue of Uppal group is expected to hit the market in the second half of the year. Company has also planned to sell shares to private equity firms before the IPO. The total dilution through private equity and IPO is expected to not to exceed 20 percent.

Uppal Group has planned to use the proceeds of the IPO to part finance its special economic zone (SEZ) projects and they need funds for that. Apart from that, they also need funds for their expansion plans. The company has decided to invest around Rs 1500 crore by March this year to expand its operations outside New Delhi. Uppal plans to expand into big cities like Mumbai, Pune, Hyderabad and into small cities like Chandigarh. Uppal Group already has running projects in these cities.

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