BPTP IPO is the next one from Real Estate sector. Real estate companies have entered capital markets after DLF tapped the markets . BPTP is a delhi based real estate company trying to raise funds to the tune of Rs.1500 crores

About BPTP IPO:

BPTP focuses on residential projects in Gurgaon, Faridabad and Noida, all in the vicinity of New Delhi. The company had 17 ongoing projects with total built up area of 39 million sq ft, as at December 2009, according to its draft prospectus.
The company plans to use the proceeds from the issue to fund construction on existing and future projects and to repay debt.
JPMorgan India and IDFC Capital are the book running lead managers to the BPTP issue.

Real estate IPO:

Since mid-2009, about 15 developers have lined up plans for initial public offers to raise about USD 6 billion on the back of reviving property demand.

These include a USD 650 million issue by Lodha Developers, a USD 770 million offering by Emaar MGF, an Indian joint venture of Dubai’s Emaar Properties, and a USD 650 million IPO by Sahara Prime City.
However, the Mumbai stock index has dropped 2.7% this year after an 81% jump in 2009 and a crowded calendar of public offers are threatening to derail fundraising plans by the property firms.
Godrej Properties, DB Realty and Nitesh Estates, the three developers that launched IPOs this year, saw poor retail support although the issues were oversubscribed on demand from institutions.