Karda Construction IPO is engaged in construction business and is all set to make a debut in the stock market with an issue size of 77.4 Cr.
Karda Construction IPO – Overview
|16-21 March 2018
|Karda Construction IPO Opening Date
|21 March 2018
|Karda Construction IPO Face Value
|INR 10 per share
|Karda Construction IPO Price
|INR 180 per share
|Karda Construction IPO Lot Size
|Book built Issue IPO
|QIB Shares Offered
|NII (HNI) Shares
|The Promoters of the Company are: 1. Mr. Naresh Karda
|IPO opening date
|16 March 2018
|IPO closing date
|21 March 2018
|Basis of Allotment
|26 March 2018
|Initiation of Refunds
|27 March 2018
|The credit of Shares to Demat
|28 March 2018
|IPO Listing Date
|2 April 2018
Karda Constriction Limited is engaged in construction business. They are a real estate development company which develops and sells residential and residential-cum-office projects in Nashik, India.
The company has successfully completed and delivered 15 residential projects and office space projects like Hari Smruti, Hari Amantran, Hari Shrushti, Hari Kunj, Hari NiwasHari Niketan, Hari Sankalp etc. They currently have 13 Ongoing and 3 Planned projects.
The sector post-introduction of Real Estate (Regulation and Development) Act (RERA) is on the path to transformation, especially for the residential real estate segment. Some of the new regulations under RERA include disallowing the common practice among many developers of pre-launching projects without getting requisite approvals from the local authorities, making project registration mandatory with the regulator, and developers will have to disclose approval status, project layout and timeframe for completion to the regulator as well as customers.
Additionally, to curb diversion of funds the developer will now have to deposit 70% of the project funds in a separate account which can only be used for the earmarked project. The Act also restricts developers from changing plans post approvals without the consent of the buyers, further empowering the buyers.
Objectives Of The Issue
- Part repayment of overdraft facilities.
- Part repayment of term loans.
- General corporate purpose.
- Issue related expenses.
Company Contact Information
Karda Construction Ltd
2nd Floor Gulmohar Status,
Above Business Bank,
Samarth Nagar, Nashik – 422005
Phone: +91� 253 � 235 1090
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