Ratnabhumi Developers Limited is a real estate and construction business based in Ahmedabad, Gujarat. One of the projects completed by the company during the period of 2009-2012 was Ratna Turquoise, which had a cost of Rs 65.63 Crores. From 2012-2017, the primary focus of the company was on the sale and marketing of the commercial offices and shops constructed in the Ratna Turquoise project.
Aside from selling and marketing commercial spaces, Ratnabhumi Developers Limited also rented shops, offices, and spaces to corporate clients for business, commercial, advertising, and network equipment installation purposes in the Ratna Turquoise project.
Ratnabhumi Developers IPO Details
| IPO Date | Dec 4, 2017 to Dec 6, 2017 |
| Listing Date | Dec 14, 2017 |
| Face Value | ₹10 per share |
| Price | ₹63 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,700,000 shares (aggregating up to ₹23.31 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
Industry Overview
According to a report by ResearchAndMarkets.com, the Indian real estate market is expected to grow at a compound annual growth rate (CAGR) of 10.9% from 2021 to 2026. This growth is attributed to the increasing demand for affordable housing, government initiatives to promote the real estate sector, and the rise of the middle class.
In the commercial real estate segment, the office space market in India has been witnessing steady growth due to the growth of the IT/ITeS sector, which is a major demand driver for office space. The retail segment has also been growing, driven by increasing consumer spending and the entry of foreign brands.
Objects of the Issue
The objects of the Issue are:
1. Acquisition of Land/Plot of Land and other strategic Initiatives;
2. Capital Contribution towards 45% stake in Rajul Projects LLP – Project Ratna Artemus II- Paldi, Ahmedabad
3. General Corporate Purpose;
4. Meeting Public Issue Expenses.
Ratnabhumi Developers IPO Prospectus
Company Contact Information
Ratnabhumi Developers Limited
S.F. 207, Turquoise, Panchvati Panch Rasta,
Nr. White House, E.B., C.G. Road,
Ahmedabad 380 009
Phone: +91 79 2642 4209
Email: compliance@ratnagroup.co.in
Website: http://ratnagroup.co.in/
Ratnabhumi Developers IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: rdl.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Ratnabhumi Developers IPO Lead Manager(s)
- Corporate CapitalVentures Pvt Ltd (Past IPO Performance)
