Sahara Group Plans To Release IPO

Published: August 25, 2009 at 9:24 AM | Author: Administrator
News Source: August 20, Google

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Lucknow-based Sahara Group is planning to take its realty arm public. The company plans to raise up to $1 billion through this IPO, which, if successful, would make it the second most valuable player in the segment after DLF. A person familiar with the development said that investment bankers JM Financial, Kotak Mahindra Capital Company and Enam will advise the initial public offering (IPO) of Sahara Prime City (SPCL) along with legal firms Amarchand Mangaldas Shardul Shroff & Co, Hirani & Co, Luthra & Luthra and Milbank of UK. The IPO is expected to hit the market by the end of this year.