Indiabulls extends Singapore IPO by one day

June 6th, 2008 - 12:37 am ICT by IANS  

New Delhi, June 5 (IANS) Indiabulls Real Estate Ltd, which is planning to raise up to S$389 million in an initial public offering (IPO) in Singapore, has extended closing of the issue by one day. The issue was initially scheduled to close Thursday. The company was planning to sell 353 million shares at 1 to 1.10 Singapore dollar each in Indiabulls Properties Investment Trust, which was opened on June 2.

NRI billionaire Lakshmi Mittal has already agreed to purchase 91 million shares at the IPO price, amounting to a 3.9 percent stake.

Earlier in May, the company filed an IPO prospectus for listing its properties investment trust in Singapore.

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