The Initial Public Offering of 16 million gilt edged shares in the capital structure of Millennium Housing Developers Ltd, (MHDL) to raise approximately Rs.96 million to finance an ambitious housing development thrust that will be implemented on a staggered basis through 2013 and 2014 will take place shortly. If the IPO is oversubscribed authorization to absorb an investment of up to Rs.192 Million has been obtained.
This project envisages the construction of homes specifically tailored to meet the rapid demand expansion for top grade housing in environment friendly ambiences and yet within affordable reach of those earning from between as low an income as Rs.25,000 a month to those stretching on to an income of Rs.500,000 a month.