Date:02/11/2006 URL: http://www.thehindubusinessline.com/2006/11/02/stories/2006110202781800.htm

Back IVRCL gains on arm listing?

The unlocking of value in IVRCL's wholly owned realty company, IVR Prime Urban, is reportedly one of the main reasons behind the company's stock gaining ground on the bourses. Market talk has it that IVRCL is looking to list its realty venture.

Before listing, the company is likely to go in for preferential allotment/issue warrants/equity either to a promoter or a large private investor. Analysts maintain this would lead to value unlocking of the company. The stock closed at Rs 300.15, up 5.13 per cent, with around 8.29 lakh shares traded on Wednesday as against the two-week average quantity of 4 lakh shares.

Deeptha Rajkumar