BPTP Limited, owned by Mr Kabul Chawla, is planning to raise $320 million via IPO. The company has filed a DRHP (draft red herring prospectus) with SEBI (Securities & Exchange Board of India).
BPTP Limited, is a real estate development company with operations primarily in various parts of the NCR, including Gurgaon, Faridabad, NOIDA and Greater NOIDA. BPTP involved in residential and commercial real estate development projects ranging from integrated townships, plotted development, group housing consisting of high rise and low rise apartments and villas to other commercial properties including district and convenience commercial and retail centres, IT and cyber parks and IT SEZs.
BPTP is the largest real estate development company in the Gurgaon-Faridabad-NOIDA market in terms of the number of apartments launched and sold, and the third largest real estate development company in terms of the sq ft launched and sold, in each case during the period from January 2005 to July 2009 (source: PropEquity).
The company intends to spend the issue proceeds to finance the construction and development costs for Project "Park Elite Floors", payment of development charges under applicable law for Ongoing Projects and Forthcoming Projects, repayment of debt availed by Company and general corporate purposes.
IDFC - SSKI Ltd and J P Morgan India Pvt Ltd is the book running lead manager of the issue and Karvy Computershare Private Limited is the registrar.
For more information about BPTP Limited IPO Prospectus please visit: