MUMBAI, Feb 26 (Reuters) - Godrej Industries Ltd <GODI.BO>
chairman Adi Godrej said on Tuesday the group's real estate unit,
Godrej Properties, will file papers for an initial public offer
with the markets regulator in "a few days".
"We will file the prospectus with SEBI (Securities and
exchange Board of India) in a few days," Godrej told television
channel CNBC-TV18. "We will be diluting about 10 percent stake."
The company is currently developing about 20 million sq ft in
Mumbai, Pune, Kolkata, Bangalore and Hyderabad.
Indian real estate firms, hit by surging land costs and curbs
on bank funding, have rushed to the capital market as they expand
to cash in on an urban real estate boom.
In 2007, real estate firms mopped up a third of all funds
raised through public offers in India. Twelve real estate firms
raised 151.85 billion rupees, including the country's largest
real estate firm DLF <DLF.BO>, which raised $2.25 billion.
(Reporting by Prashant Mehra; Editing by Sunil Nair)
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Keywords: GODREJ PROSPECTUS/