IPO Closing Today

1) Puravankara Projects Ltd.

Opening Date: 31-July-07
Closing Date : 8-August-07

IPO Closing Today

1) KPR Mills Ltd.

Opening Date: 2-August-07
Closing Date : 7-August-07


2) Take Solutions Ltd.

Opening Date: 1-August-07
Closing Date : 7-August-07

Purvankara Cuts IPO Price Range To Rs400-450 Per Share

The Indian real estate company, Purvankara Projects limited have lowered the price range for its initial public offering to Rs400-450 per share Rson the last day of its public issue. The company has earlier set a price band of Rs500-525 for its issue of 21.47mn shares. As per the NSE data, the company''s offering was over subscribed 0.36 times on the last day of its issue period. This period is now extended to August 8.

As per the deputy managing director Girish Puravankara, ''The reason (for the revision) is that market sentiment has taken a hit now and we want we want to respect the market sentiment.

The shortfall in the funds raised due to the revision of the price band is intended to be adjusted against the general corporate requirement, the company said in a statement to the Bombay Stock Exchange.

Puravankara Lowers IPO Price Band

The subprime woes have dragged US housing into a slump and the ripples from that have hit India's markets as well. The first casualty is Puravankara. It has been forced to re-price its IPO when it got few takers at the current price. Market regulator SEBI has also endorsed company's move. Puravankara has extended its IPO closing date to August 8 from August 3. It has also lowered its IPO price band to Rs 400 - 450/share from Rs 500 - 525/share. The company says that market volatility has forced it to re-price the issue. At the new prices, Puravankara will be able to raise only Rs 900 crore as against earlier Rs 1127 crore. The IPO, which opened on July 31 and was supposed to close on Friday, got a very poor response. So far the issue got only 36 per cent subscription. However, the management had different reasons to postpone the issue. Realty stocks across board got hammered in the recent market melt down. DLF down 15.7 per cent from its 52 week high of Rs 714. Unitech has lost 13.9 per cent from its all time high of Rs 623, Sobha Developers shed 26.6 per cent from its 52-week high and Parsvnath crashed 43.8 per cent from its all time high. Merchant bankers say that with the downward revision of IPO price, investors now can bid for larger pie of shares.

TAKE Solutions Completely Subscribed On Second Day

MUMBAI: The initial public offering of TAKE Solutions Ltd was subscribed 1.18 times on day 2 of the issue. The IPO received 24,71,787 bids against issue size of 21,00,000 shares. The company, with focus on life sciences and supply chain management solutions, entered the primary markets August 2. The price band of 100% book building issue is Rs 675-730 per share. The issue closes August 7. The issue will constitute 17.50% of the completely diluted post issue paid up equity capital of the company. The company will use the proceeds to acquire companies, businesses and products. TAKE Solutions purchased Texas based, ClearOrbit Inc, a supply chain execution and collaborative supply management solutions provider in June 2007 for an aggregate value of $20.6 million.

IPO Closing Today

1) Puravankara Projects Ltd.

Opening Date: 31-July-07
Closing Date :  3-August-07

IPO Opening Today

1) KPR Mills Ltd.

Opening Date: 2-August-07
Closing Date :  7-August-07