(RTTNews) - Entertainment World Developers, a realty firm, plans to tap the capital market next March with an initial public offer to raise Rs.600 crore, report media.

Company Chairman and Managing Director Manish Kalani said in New Delhi that the company would file the prospectus for the IPO with SEBI, the market regulator, by January. The company had finalized ICICI Securities, Kotak, Edelweiss and Macquarie as book-running lead managers for the issue. The promoters intend to dilute 25% of their holding in the company and would utilize the issue proceeds for general corporate purposes and the repayment of debt. Now, the company is developing 10 hotels, 13 shopping complexes apart from 11 townships in cities across central, western and southern India.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved