Indian realty major Unitech has raised 360 million pounds (approximately Rs 31.56 billion) through an inital public offer on the London Stock Exchange of a newly- incorporated real estate investment company Unitech Corporate Parks Plc.
UCP, recently incorporated in the Isle of Man, announced on Friday that it has placed 360 million ordinary shares of one pence each (face value) through the IPO as it aims to invest in the Indian real estate sector.
The shares have been placed with the investors at a price of 100 pence per share, taking the total issue proceeds to 360 million pounds, the company said in a regulatory filing with the London Stock Exchange.
The conditional trading in these shares begins on Friday on the London Stock Exchange's AIM market, while the unconditional trading would commence on December 20, it said.
Deutsche Bank, which is a joint book-runner in the issue and the company's nominated adviser and broker, has been granted an over-allotment option to sell up to a further 54 million ordinary shares at the offer price, which could raise a further 54 million pounds.
UCP Chairman Atul Kapur said, "The successful completion of the offer is a strong indication of investor appetite to gain exposure to the rapidly expanding real estate market in India and we are delighted to welcome a broad-base of international investors to the company."
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
© 2026