Indian property developer eyes $219 million IPO

03/25/2010 | Bloomberg

Raheja Universal, a property developer in Mumbai, India, is planning to file paperwork for a $219 million initial public offering, possibly as early as this week, according to sources. The timing is questionable to some. "There is fatigue in the system for real estate IPOs -- only quality names will be able to raise money in these markets," said Vikas Chimakurthy, a director at Kotak Realty Funds Group. "Most companies that have listing approvals are waiting for the markets to stabilize."

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