Four Season Residency files draft prospectus with Sebi for IPO

Four season Residency on Wednesday said that it has filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) to enter primary market through an initial public offering (IPO). 

As per the draft, Four Season will issue 1 crore equity shares at a face value of Rs 10 each. The issue will constitute 38.89% of the fully diluted post-issue paid up equity share capital of the company. 

Four Seasons Residency said, "Price band of the issue will be decided in consultation with book running lead manager (BRLM)  and will be announced accordingly."

75% of the issue will be allocated on a proportionate basis to Qualified Institutional Buyers. Four Season said, "It may allocate 60% of QIB category to anchor investors."

Chartered Capital And Investment Limited will act as a BRLM and Link Intime India Private Limited as registerar to the issue. 

Bharat Road Network Limited (BRNL), a subsidiary of Srei Infrastructure Finance Limited, has also filed for IPO to raise up to Rs 1200 crore.