New Delhi: Amid difficult times and severe liquidity scenario for the real estate sector, builders are looking at different ways to get money. But Initial Public Offering (IPO) is definitely not on the priority list of many realty firms.
However, Puranik Builders is not among those firms. It has filed fresh documents with Securities and Exchange Board of India (SEBI) to raise about Rs 1,000 crore through IPO.
IPO proceeds will be utilized for repayment of loans and other ‘general corporate purposes’, according tit he documents filed by the company.
This is not the first time that the company has filed the documents with SEBI. In June 2018, the company had filed similar documents with SEBI and had even received the approval of the market regulator for the IPO but did not go ahead with listing plans.