Peninsula Land to raise Rs 525cr

Peninsula Land has approved the issue of 43,750,000 equity shares of Rs 2 each at Rs 120 per share aggregating to an issue size of Rs 525 crore.

According to a release issued by Peninsula Land to the BSE today, the issue price is above the floor price calculated in accordance with Clause 13A.3 of SEBI (DIP) Guidelines.

The bid closing date, pursuant to the proposed issue of equity shares under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000, is December 20, 2007, the release added.

UBS Securities India and Enam Securities acted as joint global book runners for the issue.