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D. S. Kulkarni to raise Rs. 200 cr.
NEW DELHI:
D. S. Kulkarni Developers Ltd is tapping the capital market on April 25 to raise Rs. 200 crore from a composite share issue, comprising a public offer and a rights issue, to fund its nine ongoing and new residential and commercial real estate development projects worth Rs. 555 crore in Pune, Mumbai and Bangalore. "We are expecting to raise about Rs. 200 crore from the follow on offer (55 lakh shares) and the rights issue (55 lakh shares)," the company's Chairman and Managing Director, D. S. Kulkarni, told reporters, adding that the net offer to the public would be 47.49 lakh and the price band would be decided on April 22. The issue will close on May 3.
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